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FINANCIAL INTELLIGENCE CENTER ACT (FICA)
FICA REQUIREMENTS FOR ATTORNEYS

The FIC Amendment Act, 2008 (Act 11 of 2008) came into operation on 1 December 2010 and attorneys are requested to familiarise themselves with various important requirements in this regard.

Attorneys must ensure that they comply with the various provisions of this Act.

To download the LSNP Circular which sets out the requirements for attorneys, click here.

The Law Society of the Northern Provinces has been informed by the Financial Intelligence Centre that a large number of attorneys’ firms have not yet registered with the Centre and are thus in contravention of Section 43B of the Financial Intelligence Centre Act No 38 of 2001. Kindly note that deadline for registration by attorneys’ firms was 1 March 2011.

The Centre has commenced with inspections in terms of Section 45B of the FIC Act for the purpose of determining compliance with the Act.
Should an inspection be carried out at your offices and it is established that you have still not registered and/or complied with the Act, the following penalties or sanctions may be imposed on you by the Centre:

1. A maximum criminal fine of R10 million or 5 years imprisonment;
2. A reprimand;
3. A restriction of business activities; or
4. A financial penalty not exceeding R10 million.

It is thus advisable that if you have not attended to this matter as yet that your offices register with the Centre immediately and fully comply with all the provisions as per the Act.

The registration process must be completed online through the Financial Intelligence Centre website (www.fic.gov.za).

A document summarising the electronic registration process is available here.

We have received enquiries from attorneys indicating that they experience some difficulties with the registration process through the website.

As a service to our members you will be provided with an opportunity to register your firm with the FIC with the assistance of the Communication Unit of the LSNP.
Assistance will be provided with the registration process ONLY if you find it difficult or are not familiar with the process.

For assistance with the registration of your firm you are welcome to contact 

Hester Bezuidenhout, Head Communication Unit, at Tel: (012) 338 5949.

The manual registration form can be downloaded here.