The Financial Intelligence Centre of South Africa published Public Compliance Communication No. 12A, which provides guidance on outsourcing compliance activities to third party providers.
The Financial Intelligence Centre of South Africa published a consultation feedback report relating to draft public compliance communication No. 12A on guidance concerning outsourcing of compliance activities to third-party service providers under the Financial Intelligence Centre Act, 2001.
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The South African Reserve Bank issued an administrative sanction against the Cape Town, South Africa-based authorized dealer in foreign exchange with limited authority for failing to have adequate anti-money laundering and counterterrorist financing controls as required.
The South African Reserve Bank issued an administrative sanction against the Sandton, South Africa-based life insurer for its failure to comply with required anti-money laundering control measures.