Financial Intelligence Centre Act 38 of 2001 (FICA) 

South Africa has implemented the Financial Intelligence Centre Act 38 of 2001 (Fica) that is designed to create money laundering control obligations, which is the abuse of financial systems to hide and or disguise the proceeds of crime, to combat money laundering and the financing of terrorism.

 

Framework consists of the following Acts:

Prevention of Organised Crime Act No. 121 of 1998 (POCA)

Financial Intelligence Centre Act No. 38 of 2001 (FICA)

Protection of Constitutional Democracy against Terrorist and Related Activities Act No. 33 of 2004 (POCDATARA)

 

SendSpend is registered as an Accountable Institution at the FIC.

 

SendSpend implements measures to know who our customers are and to prevent criminals from using false or stolen identities to gain access to our services.

 

 What we need from you

  • Your green identification book, or

  • Your identification card, or

  • Your driver’s license, or

  • Your Passport

 

SendSpend has adopted a Risk Management Programme that includes Internal Policies, Procedures, and Controls to ensure that it complies with AML/CFT obligations.

 

SendSpend is committed to ensuring that our Fica identification is done responsibly.  We have set up an infrastructure to verify your identity.

 

SendSpend monitors Suspicious Activities and Reports the Suspicious transactions to the FIC. Screening of customer’s transactions is carried out by an IT solution through a risk-based approach.