Financial Intelligence Centre
@fic.gov.za
The Financial Intelligence Centre (FIC) is South Africa’s national centre for the receipt of financial data, analysis and dissemination of financial intelligence to the competent authorities. The FIC was established by the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) and has the mandate to identify the proceeds of crime, combat money laundering and terror financing. It does this by seeking to: •Supervise and enforce compliance with the FIC Act •Facilitate effective supervision and enforcement by supervisory bodies •Receive financial data from accountable and reporting institutions •Share information with law enforcement authorities, intelligence services, the South African Revenue Service, international counterparts and supervisory bodies •Formulate policy regarding money laundering and the financing of terrorism •Provide policy advice to the Minister of Finance and •Uphold the international obligations and commitments required by the country in respect of anti-money laundering and combating financing of terrorism (AML/CFT). The FIC Act introduces a regulatory framework of measures requiring certain categories of business to take steps regarding client identification, record-keeping, reporting of information and internal compliance structures. The Act obliges all businesses to report to the FIC various suspicious and certain other transactions. The FIC uses this financial data and available data to develop financial intelligence, which it is able to make available to the competent authorities and supervisory bodies for follow-up investigations or administrative action. All accountable and reporting institutions are required to register with the FIC. The FIC and supervisory bodies have the authority to inspect and impose administrative penalties on non-compliant businesses. The Act also introduced an appeal process and an appeal board. South Africa is a member of the Financial Action Task Force.
Financial Intelligence Centre's Company Logos
Financial Intelligence Centre's Brand Colors
Hex Code
Color name
RGB
HSL
CMYK
#4E7A92
Smalt Blue
78, 122, 146
201, 30, 44
47, 16, 0, 43
#F8F8F8
Alabaster
248, 248, 248
0, 0, 97
0, 0, 0, 3
#363636
Mine Shaft
54, 54, 54
0, 0, 21
0, 0, 0, 79
About Financial Intelligence Centre
The Financial Intelligence Centre (FIC) is a vital institution in South Africa, working to ensure the integrity of the financial system and combat abuse. Established under the Financial Intelligence Centre Act, the FIC's primary goal is to identify the proceeds of crime, combat money laundering, terrorism financing, and the proliferation of weapons of mass destruction. The FIC fulfills its mandate through a range of measures, including implementing customer due diligence procedures, adopting a risk-based approach to client identification and verification, and enforcing financial sanctions.
Additionally, the FIC shares information with competent authorities, develops risk management and compliance programs, and issues directives to ensure compliance across accountable and reporting institutions. As the country's financial intelligence unit, the FIC collects and analyzes transaction data from various institutions, producing financial intelligence to support law enforcement agencies in their investigations and asset forfeiture applications. By doing so, the FIC plays a critical role in the country's criminal justice system.
Overall, the FIC serves as a crucial watchdog, safeguarding the financial system and contributing to the prevention and detection of financial crimes
Brand industry
Law and Government
Company type
Government Agency
Year founded
2002
Company size
201-500 employees
