We also offer additional project services for more complex tasks. If you sign up for our compliance subscription service you will receive access to these additional services.*

Our FICA Compliance Project Services Include:

FICA Compliance Experts on Call

Preparation for a FIC inspection

Whilst most inspections are arranged in advance, the FIC and supervisory bodies have the right to inspect any Accountable Institutions without notice and in most cases without a warrant.

Our team will take you through key elements required by the FIC Act and provide guidance on what to expect during an inspection.

 

Expertly Crafted RMCP

Response to a FIC report

After the FIC have done their inspection, you will receive a post-inspection report, which often will include identified weaknesses. The next steps can range from directive to remediate or to a considerable penalty based on the seriousness of the findings.

Our team can help you understand your post-inspection report, provide guidance around any remediation the FIC have requested you to action and can assist you with crafting a response detailing your actions.

Annual FICA Compliance Review

Guidance around suspicious activities or reports

As set out by the FIC Act, Accountable Institutions are obligated to report any suspicious behavior or transactions. These reporting duties include cash transactions above the prescribed limit, property associated with terrorist and related activities as well as suspicious and unusual transactions.

We can provide guidance on how to identify, manage as well as submit Suspicious Activity or Transaction Reports.

Certified FICA Training

Enhanced Due Diligence on a Client File

When dealing with higher risk clients, it is recommended that enhanced due diligence is performed. Our team can review your client’s file and provide guidance on the due diligence or potential level of risk a client or transaction may present.

We can dig deeper into an actual or potential client by identifying CIPC registered linked/ related entities or individuals, up to an agreed level of layers, and can research any potential adverse media of connections.

Project Services

Guidance on finding the Ultimate Beneficial Owner (UBO)

Whilst it’s usually a natural person that is a majority shareholder, not all entities have a majority shareholding or even shareholding at all.

We can help you work through complex structures to identify who the beneficial owner is, and research any potential adverse media of these UBO’s and other connections.

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Creation of new Risk Management and Compliance Program (RMCP)

An RMCP is ultimately your reference point when onboarding or working with any clients. In order to be truly effective an RMCP should be kept up to date and be enforced consistently throughout your business.

If you do not alreay have an RMCP, we can provide an expertly crafted RMCP template that is tailored to your specific business as well as the products and services it presents.

 

Project Services

RMCP review and opinion

The FIC Act requires all Accountable Institutions to document, implement and maintain an RMCP and should ultimatly reflect how risk is assessed and mitigated in your business.

If you already have an existing RMCP in place, we can conduct a review of your RMCP against key FIC requirements, best practice and expert comment around any potential gaps, efficiencies or improvements. We will also provide guidance around updates from previous “Internal Rules” to the new RMCP requirements of the Amendment Act.

FICA Compliance Experts on Call

Preparation for a FIC inspection

Whilst most inspections are arranged in advance, the FIC and supervisory bodies have the right to inspect any Accountable Institutions without notice and in most cases without a warrant.

Our team will take you through key elements required by the FIC Act and provide guidance on what to expect during an inspection.

 

Response to a FIC report

After the FIC have done their inspection, you will receive a post-inspection report, which often will include identified weaknesses. The next steps can range from directive to remediate or to a considerable penalty based on the seriousness of the findings.

Our team can help you understand your post-inspection report, provide guidance around any remediation the FIC have requested you to action and can assist you with crafting a response detailing your actions.

Expertly Crafted RMCP
Annual FICA Compliance Review

Guidance around suspicious activities or reports

As set out by the FIC Act, Accountable Institutions are obligated to report any suspicious behavior or transactions. These reporting duties include cash transactions above the prescribed limit, property associated with terrorist and related activities as well as suspicious and unusual transactions.

We can provide guidance on how to identify, manage as well as submit Suspicious Activity or Transaction Reports.

Enhanced Due Diligence on a Client File

When dealing with higher risk clients, it is recommended that enhanced due diligence is performed. Our team can review your client’s file and provide guidance on the due diligence or potential level of risk a client or transaction may present.

We can dig deeper into an actual or potential client by identifying CIPC registered linked/ related entities or individuals, up to an agreed level of layers, and can research any potential adverse media of connections.

Certified FICA Training
Project Services

Guidance on finding the Ultimate Beneficial Owner (UBO)

Whilst it’s usually a natural person that is a majority shareholder, not all entities have a majority shareholding or even shareholding at all.

We can help you work through complex structures to identify who the beneficial owner is, and research any potential adverse media of these UBO’s and other connections.

Creation of new Risk Management and Compliance Program (RMCP)

An RMCP is ultimately your reference point when onboarding or working with any clients. In order to be truly effective an RMCP should be kept up to date and be enforced consistently throughout your business.

If you do not alreay have an RMCP, we can provide an expertly crafted RMCP template that is tailored to your specific business as well as the products and services it presents.

Project Services
Project Services

RMCP review and opinion

The FIC Act requires all Accountable Institutions to document, implement and maintain an RMCP and should ultimatly reflect how risk is assessed and mitigated in your business.

If you already have an existing RMCP in place, we can conduct a review of your RMCP against key FIC requirements, best practice and expert comment around any potential gaps, efficiencies or improvements. We will also provide guidance around updates from previous “Internal Rules” to the new RMCP requirements of the Amendment Act.

* Subject to T&Cs