The Financial Intelligence Centre (FIC) published Directives 6 and 7 of 2023 in the Government Gazette No 48356 on 31 March 2023.
Directive 6 requires persons who are accountable institutions (AI) under Items 1,2,3 and 9 of Schedule 1 to the Financial Intelligence Centre Act, 38 of 2001 (FICA), to “submit information regarding their understanding of money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risks and their assessment of compliance with obligations in terms of the FIC Act to the FIC through a risk and compliance return.”
The return must be filed with the FIC by 31 May 2023.
Directive 7 refers to Items 11, 14, 20, 21, and 22 of Schedule 1 and should, in the normal course of their business, not be applicable to fiduciary practitioners.
Click here for Directive 6.
Click here for our previous post about the amendments to Schedule 1.