FIC Releases Annual Report 2024/2025

Posted 09 October 2025 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has published its Annual Report for the 2024/2025 financial year, outlining its performance in executing its mandate under the Financial Intelligence Centre Act, No. 38 of 2001 (FICA).

In terms of its regulatory and enforcement functions, the FIC reported a clean audit and highlighted its role in addressing the requirements for South Africa’s removal from the Financial Action Task Force (FATF) ‘grey list’. During the 2024/2025 period, the FIC’s financial intelligence contributed to the recovery of approximately R144 million in criminal proceeds. This was supported by the production of:

  • 3 104 reactive financial intelligence reports;
  • 1 092 proactive financial intelligence reports; and
  • 51 reports specifically addressing illicit financial flows.

Administrative Sanctions and Compliance

The FIC issued 25 administrative sanctions against designated non-financial businesses and professions (DNFBPs) during the 2024/2025 financial year. The total value of sanctions imposed amounted to R2 228 000. The report notes that two of these sanctions are currently under appeal before the FIC Act Appeal Board, while another appeal involving five separately sanctioned branches of a single institution was upheld by the Board.

The FIC continued to provide guidance to accountable institutions to improve compliance with anti-money laundering (AML), combating the financing of terrorism (CFT), and combating proliferation financing (CPF) measures. This included ongoing awareness activities to ensure that businesses understand their obligations under the Financial Intelligence Centre Act, No. 38 of 2001.

Click here to download the FIC Annual Report 2024/2025.

Click here to download the Related Media Release.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; impact is channelled through professional firm-level compliance and statutory reporting duties under FICA.
  • For your business: Accountable institutions, particularly DNFBPs, must ensure their Risk Management and Compliance Programmes (RMCP) are robust to avoid administrative sanctions, which the FIC is actively enforcing with penalties exceeding R2.2 million in the last year.
  • For your clients: Clients should be informed that the FIC has significantly increased its proactive reporting on illicit financial flows, meaning suspicious transactions are more likely to be flagged for law enforcement intervention and asset recovery.

Originally published at https://accountingacademy.co.za/news/read/fic-annual-report-2024-2025

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