Compliance Services
Welcome to the first FICA Compliance subscription service. In addition to our gold standard nCino software, we offer hands-on FICA compliance subscription services and certified FICA training. Lean on us for industry specific expert advise or training relating to KYC, AML or financial crime compliance.
Our FICA Compliance Subscription Services Include:
COMPLIANCE SERVICES
Compliance Experts on Call
Get unlimited access to our compliance team for any quick FICA related questions via email. (Questions should be able to be answered within 15 minutes.)
COMPLIANCE SERVICES
Expertly Crafted RMCP
Need an RMCP that is tailored to your industry? Let our team assist you with that and a step by step guide to implementing it. The RMCP will address key FICA requirements.
COMPLIANCE SERVICES
Annual Compliance Review
As compliance & businesses are ever changing, each year we will provide you with a deep dive into the FICA due diligence and nCino KYC compliance within your organisation.
COMPLIANCE SERVICES
Certified FICA Training
Select from a range of FICA training which covers the latest in FIC Amendment Act, money laundering, terrorist financing and more. Select trainings are FPI approved.
COMPLIANCE SERVICES
Niche Project Services
Access to our compliance team for more complex questions and project services. Eg. Guidance on finding the UBO or assistance in preparing for a FIC inspection.
COMPLIANCE SERVICES
NewsWatch Newsletters & Regulatory Watch
Receive updates and guidance on FICA related regulatory changes and their impact on your business and a weekly email with financial crime relates news and updates from South Africa and the world.
nCino KYC is very user friendly and we love working on it
Alexia Pretorius
KYC Officer
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Experience the full capabilities of our platform and discover how it can benefit your business.
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FICA Project
Services
We also offer additional project services for more complex tasks. If you sign up for our compliance subscription service you will receive access to these additional services.
Preparation for a FIC Inspection
Whilst most inspections are arranged in advance, the FIC and supervisory bodies have the right to inspect any Accountable Institution without notice and in most cases without a warrant.
Our team will take you through key elements required by the FIC Act and provide guidance on what to expect during an inspection.
Response to a FIC report
After the FIC have done their inspection, you will receive a post-inspection report, which often will include identified weaknesses. The next steps can range from a directive to remediate or to a considerable penalty based on the seriousness of the findings.
Our team can help you understand your post-inspection report, provide guidance around any remediation the FIC have requested you to action and can assist you with crafting a response detailing your actions.
Guidance around Suspicious Activities or Reports
As set out by the FIC Act, Accountable Institutions are obligated to report any suspicious behavior or transactions. These reporting duties include cash transactions above the prescribed limit, property associated with terrorist and related activities as well as suspicious and unusual transactions.
We can provide guidance on how to identify, manage as well as submit Suspicious Activity or Transaction Reports.
Enhanced Due Diligence on a Client File
When dealing with higher risk clients, it is recommended that enhanced due diligence is performed. Our team can review your client’s file and provide guidance on the due diligence or potential level of risk a client or transaction may present.
We can dig deeper into an actual or potential client by identifying CIPC registered linked/ related entities or individuals, up to an agreed level of layers, and can research any potential adverse media of connections.
Guidance on finding
the Ultimate Beneficial
Owner (UBO)
When dealing with higher risk clients, it is recommended that enhanced due diligence is performed. Our team can review your client’s file and provide guidance on the due diligence or potential level of risk a client or transaction may present.
We can dig deeper into an actual or potential client by identifying CIPC registered linked/ related entities or individuals, up to an agreed level of layers, and can research any potential adverse media of connections.
Meet all your Risk Management & Compliance Programme Needs
The FIC Act requires all Accountable Institutions to document, implement and maintain an RMCP and should ultimately reflect how risk is assessed and mitigated in your business.
Creation of new RMCP
An RMCP is ultimately your reference point when onboarding or working with any clients. In order to be truly effective an RMCP should be kept up to date and enforced consistently throughout your business.
If you do not already have an RMCP, we can provide an expertly crafted RMCP template that is tailored to your specific business as well as the products and services it presents.
RMCP Review & Opinion
If you already have an existing RMCP in place, we can conduct a review of your RMCP against key FIC requirements, best practice and expert comment around any potential gaps, efficiencies or improvements. We will also provide guidance around updates from previous “Internal Rules” to the new RMCP requirements of the Amendment Act.