FICA

What is FICA?

The Financial Intelligence Centre Act 38 of 2001 as well as the Amendment Act has been introduced to strengthen South Africa’s ability to fight illicit financial flows and other forms of financial crimes, which include money laundering, corruption, terrorism financing and tax evasion. SA has been a member of the Financial Action Task Force (FATF) since 2003. FATF is an international body of countries tasked with setting best practices to combat money laundering and terrorism financing. South Africa is also a signatory to the United Nations (UN) Convention Against Corruption (2004).   

The Financial Intelligence Centre have embarked on a drive to prevent and penalise money laundering. DMA INC has undertaken to prevent and detect transactions involving monies perceived to be from questionable sources both as a result of FIC requirements and to avoid any reputational risks involved.

FICA compliance

Dev Maharaj & Associates INC “Know Your Client” (KYC) Requirements:

Details of the minimum information and documentation requirements are listed below.
DMA INC does however reserve the right to request any additional information and/or documentation should the need arise.

Certified Care
Documentation Requirements

FICA Compliance

  1. Identity Document/Passport
  2. Proof of residence
  3. SARS Tax number
  1.  CIPC Company Registration documents
  2. SARS Tax and VAT registration details 
  3. Idebtity Documents of Director/s
  4. Company resolution authorising representative to act on behalf of the Company
  5. Representatives proof of residence
  1. Certified copy of trust deed
  2. SARS Tax and Vat registration details
  3. Identity documents of trustees
  4. Resolution authorising representative to act on behalf of the trust
  5. Representatives Proof of Residence