# FICA

- Link: https://dearsouthafrica.co.za/fica/
- Published: 2020-07-13T18:21:03+02:00
- Author: dearSA

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The Minister of Finance, in terms of the Financial Intelligence Centre Act, 38 of
2001 (“FICA”), published proposed amendments to **Schedules 1, 2 and 3** of FICA
for public comment. The proposed amendments seek to align FICA with the current 
International Standards of the Financial Action Task Force (“FATF”) as well as with
recent legislative amendments._ Please view a summary at the link below._

### **2491**** **participants (closed 18 August).

[download a PDF of the public comments (1mb) ](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/09/20190920/FICA-final-s.pdf)

![FICA-DearSA](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/07/20191015/
fica.jpg "fica-DearSA")

[view summary of schedules here ](https://dearsouthafrica.co.za/fica/summary)

## Have your say – shape this policy.

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### DOWNLOAD DOCUMENTS

 * [Website Notice Consultation Paper re proposed amendments of schedules to the FIC Act 2001 (Act 38 of 2001)](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/07/20191017/Website-Notice-Consultation-Paper-re-proposed-amendments-of-schedules-to-the-FIC-Act-2001-Act-38-of-2001.pdf)
 * [Consultation document Schedules 1 2 3 for submission to Min](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/07/20191016/Consultation-document-Schedules-1-2-3-for-submission-to-Min.pdf)
 * [Government Gazette No. 43447](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/07/20191016/2020062301-Media-statement-Proposed-amendments-to-FICA-Schedules.pdf)
 * [Proposed amendments to FICA Schedules](https://cdn.dearsouthafrica.co.za/wp-content/uploads/2020/07/20191015/Government-Gazette-No.-43447.pdf)

### IN THE MEDIA

 * [Impact of the proposed FICA amendments on crypto asset service providers](https://www.webberwentzel.com/News/Pages/impact-of-the-proposed-fica-amendments-on-crypto-asset-service-providers.aspx)

**Proposed amendments to Schedule 1:**
 Expansion of the Schedule 1 list of entities
subject to the customer due diligence, risk management and compliance obligations
set out in FICA (accountable institutions). These entities will include crypto asset
service providers, high-value goods dealers and co-operative banks, among others;
and

Technical amendments to the Schedule 1 list of entities, to align Schedule 1 with
recent legislative changes.

**Proposed amendments to Schedule 2:**
 The respective supervisory bodies currently
responsible for supervising non-financial accountable institutions have been removed(
e.g. the National Gambling Board which supervises the FICA compliance of persons
who carry on the business of making gambling activity available). The supervision
of non-financial accountable institutions will become the responsibility of the 
Financial Intelligence Centre.

**Deletion of Schedule 3:**
 As a result of the inclusion of the “high value goods”
category of entities in Schedule 1, Schedule 3 will be deleted and the current reporting
institutions (motor vehicle and Krugerrand dealers) will now be included in the 
new category of high value goods dealers under schedule 1. [[read more …]](https://dearsouthafrica.co.za/fica/summary/)

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