FIC: Targeted Financial Sanctions List Updated

Posted 24 March 2026 Written by Acts Online
Category Financial Intelligence Centre

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has announced an update to the Targeted Financial Sanctions (TFS) list following revisions by the United Nations Security Council (UNSC).

In terms of sections 26A, 26B, and 26C of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the FIC maintains a consolidated list of proscribed persons and entities. This list is a direct replica of the UNSC consolidated list and reflects identity details contained in notices published by the Director of the FIC. According to the FIC, the list is updated within 24 hours of any changes made by the UNSC; the most recent update was recorded in October 2025.

The provisions of the Financial Intelligence Centre Act, No. 38 of 2001 require all accountable institutions to perform specific regulatory actions regarding persons or entities appearing on the TFS list. These obligations include:

  • Scrutinising existing client databases and new applicants against the updated TFS list;
  • Freezing all assets, including funds and property, belonging to or controlled by a person or entity on the list; and
  • Ensuring that no further transactions are processed for or on behalf of the sanctioned party.

The FIC provides an online search tool to assist asset holders and accountable institutions in identifying matches between client names and the TFS list. This tool can be accessed via the official portal at https://tfs.fic.gov.za/ or through the FIC website at https://www.fic.gov.za/targeted-financial-sanctions/.

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

  • For yourself: As a compliance professional, you must verify that your firm’s internal screening protocols have been updated to include the October 2025 revisions to ensure personal professional negligence risks are mitigated.
  • For your business: Accountable institutions must perform a retrospective screening of their entire client base against the updated list to ensure compliance with section 26B of the Financial Intelligence Centre Act, No. 38 of 2001.
  • For your clients: Clients identified as matches on the TFS list must be notified that their assets are frozen by operation of law, and no further services or transactions can be provided to them under penalty of law.

Originally published at https://accountingacademy.co.za/news/read/fic-tfs-list-updated-2

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.