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Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)

Directives

Directive for Submission of a risk and compliance return to the Financial Intelligence Centre by specified accountable institutions

Directive 7 of 2023

2. Directive

 

2.1 This Directive applies to accountable institutions that are listed in items 11, 14, 20, 21 and 22 of Schedule 1 to the FIC Act.

 

2.2 The completion of the risk and compliance return is compulsory for all accountable institutions specified in this Directive.

 

2.3 Accountable institutions must answer all questions in the risk and compliance return questionnaire as specified in Annexure “A”.

 

2.4 Accountable institutions must answer all questions based on its understanding of ML, TF and PF risks and its implementation of current risk-based controls in compliance with the obligations set out in the FIC Act.