The Risk Management and Compliance Programme (“RMCP”) establishes guidelines and procedure to ensure full compliance with the FIC Act in identifying, measuring, monitoring, managing and reporting the material risks to which the enterprise may be exposed.

Risk Management and Compliance (RMC) Programme for anti-money laundering and counter-terrorist financing. the risk that the provision of services rendered by the attorney/Firm may involve or facilitate money laundering activities or the financing of terrorist and related activities. 2. IDENTIFICATION OF AML/CFT RISKS.

1. INTRODUCTION AND SCOPE OF RMCP The Financial Intelligence Centre Act (FICA) and the FIC Amendment Act require that an accountable institution must formulate and implement internal rules to enable the accountable institution to: • identify; • assess; • monitor; • mitigate; and

2025年3月5日 · Accountable institutions are defined in Schedule 1 to FICA, as amended, and include certain credit providers and dealers in high-value goods. In terms of section 42(4) on 4 March 2025, the FIC has issued a request requiring all accountable institutions to submit their RMCPs to the FIC by Wednesday, 12 March 2025.

Section 42 of the FIC Act requires all accountable institutions to have in place a risk management and compliance programme (RMCP). An RMCP documents the identified money laundering, terrorist and proliferation financing risks the institution faces, and how it will deal with these risks.

The LPC requires proof of registration in terms of FICA (i.e.: ORG ID) when opening a legal practice; Legal practitioners must, in support of the application for the fidelity fund certificate, confirm its annual statement on trust accounts, that it …

1.9. This PCC includes a principal discussion of effective documentation of an RMCP document, a reference table of all applicable sections of the FIC Act that must be included in an RMCP (Annexure A), an editable template that could be used as a guide (Annexure B), and a list of indicators that may be used to assess the ML/TF/PF risk. 1.10.

2019年4月3日 · Section 42 (2) of FICA requires the RMCP to enable AIs to, amongst others, identify and manage risk arising from the provision of its products or services. The RMCP incorporates various aspects...

The Risk Management and Compliance Programme (“RMCP”) establishes guidelines and procedure to ensure full compliance with the FIC Act in identifying, measuring, monitoring, managing and reporting the material risks to which the enterprise may be exposed.

Amendments to the Financial Intelligence Centre Act (FICA) came into effect on 31 December 2022. It’s important to note that the enhanced compliance requirements occasioned by these amendments apply to a wider range of commercial activities.