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

Directives

Directive for Screening of employees for competence and integrity and scrutinising of employee information against applicable targeted financial sanctions lists as a money laundering, terrorist financing and proliferation financing control measure

Directive 8 of 2023

2. Directive

 

2.1 This Directive is issued by the Financial Intelligence Centre (FIC) in terms of section 43A(1) of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (the FIC Act.)

 

2.2 This Directive applies to all accountable institutions.

 

2.3 Accountable institutions must screen prospective employees and current employees for competence and integrity periodically, in a risk-based manner.

 

2.4 An accountable institution must scrutinise information concerning its prospective employees and current employees upon notice being given by the Director under section 26A(3) of the FIC Act, to determine whether any such prospective employee or current employee, is a person mentioned in the notice by the Director.

 

2.5 The accountable institution must provide for, and record, the manner in which screening for competence and integrity, as well as the manner in which scrutinising of employee information against targeted financial sanctions lists in terms of paragraph 2.3 and 2.4, will be conducted.

 

2.6 An accountable institution must keep a record of the outcome of the screening for competence and integrity as well as the scrutinising of employee information against targeted financial sanctions lists as required in terms of paragraph 2.3. and 2.4.

 

2.7 The records relating to both the manner and outcomes of the screening and scrutinising of employee information as required in terms of paragraph 2.5 and 2.6 must, on request, be made available to the FIC or a supervisory body which performs regulatory or supervisory functions in respect of that accountable institution.