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 The Financial Intelligence Centre Act has been in operation for more than two decades and has contributed to defending the integrity and security of South Africa’s financial system.

The previous legislation imposed heavy compliance burdens on accountable institutions and had impacted adversely on the customers of those institutions. The Amendment Act strengthens the FIC Act by introducing a risk-based approach to customer due diligence, among others. It puts the risk-based approach at the center of South Africa’s AML/CFT/PF regime and recognises that the risks of money laundering, terrorist and proliferation financing vary within and between sectors. It requires an understanding of these risks at various levels including within Government, supervisors and institutions in the private and public sectors. 

The AML Connexion is ideally positioned to assist you with your obligations in terms of the legislation. We are able to help you "connect the dots" by drawing on multiple internal and external resources to provide you with excellent service across a wide spectrum of topics. Our international experience enables us to provide you with assistance with African and other international jurisdictions whether your requirements are in respect of current operations or your future strategy. We were intimately involved in drafting of the public comments and to the FIC Amendment Act and understand the challenges in adopting a risk-based approach as well as related implications such as governance, training and record keeping and the impact this has on the operational and strategic goals of your business.

We are a dynamic company and have extensive experience in the fields of Anti Money Laundering, Combating Financing of Terrorism and Proliferation as well as Anti Bribery and Corruption compliance. we have a deep understanding of the risk management principles and methodology to assist you to achieve compliance through effective risk management and control. Our highly experienced and qualified staff have been at the forefront of the implementation of the current legislation in South African and international banking institutions and have practical experience of the realities involved in these complex fields. Our experience is not limited to the banking sector but also includes other industries locally and internationally. Although we are compliance professionals, we offer practical solutions due to our extensive experience in business operations and our awareness of the impact of compliance on customers and staff. We are also acutely sensitive to the fact that business exists to make money and that compliance is only one of many considerations affecting profitability.