FIC Updates Targeted Financial Sanctions List

Posted 23 April 2026 Written by Acts Online
Category Financial Intelligence Centre

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has updated its Targeted Financial Sanctions (TFS) list following two recent updates 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 is required to maintain an updated list of proscribed persons and entities as identified by the UNSC. The FIC has confirmed that the UNSC updated its consolidated list twice within a two-day period, and the FIC’s TFS list has been adjusted accordingly. The FIC typically updates this list within 24 hours of changes made at the international level; the list was last updated in March 2026.

The TFS list reflects available identity details of persons and entities contained in notices published by the Director of the FIC. Under the current regulatory framework, accountable institutions are required to:

  • Scrutinise their clients and potential clients against the updated TFS list;
  • Freeze any assets held by or on behalf of a proscribed person or entity; and
  • Ensure that no transactions are proceeded with involving listed parties.

The TFS list is a replica of the original UNSC consolidated list and does not constitute a separate domestic South African sanctions list. To assist accountable institutions and asset holders, the FIC provides an online search tool to identify possible matches between client names and the TFS list.

Access the search tools here: FIC Targeted Financial Sanctions Portal or TFS Online Search Tool.

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

  • For yourself: No direct individual obligations; impact channelled through firm-level compliance and reporting duties under FICA.
  • For your business: Accountable institutions must immediately run their entire client database against the updated TFS list to ensure compliance with the asset-freezing requirements of section 26B of the Financial Intelligence Centre Act, No. 38 of 2001.
  • For your clients: Clients identified as matches on the TFS list will face immediate freezing of assets and cessation of all financial services as required by international and domestic law.

Originally published at https://accountingacademy.co.za/news/read/fic-tfs-list-updated-3

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