Real Estate & Property Management

We understand that there are multiple compliance burdens that can keep you from focusing on property transfers, sales or rentals. To address this, DocFox ensures that your Know your Client (KYC) process is hassle free and automated.

There’s more to Financial Intelligence Centre Act (FICA) compliance than document collection and verification. To be fully compliant, Estate Agents should comply with all compliance obligations set out by the FIC.

DocFox can assist you in being FULLY FICA compliant without slowing you down:

Speed up the time it takes to collect and verify documents

When it comes to property transfers, sales or rentals, a large and often inconvenient part of the process is getting clients or potential clients to send through the correct documentation. With DocFox you no longer need to waste valuable hours checking and chasing documents – we will take care of the document collection and analysis so you don’t have to.

Pass your FIC Inspection by meeting all FICA requirements

DocFox offers an end-to-end FICA compliance solution, meaning that we can assist you with all your FICA obligations. In order to assess the level of risk your client presents, our software enables you to implement a standardised risk-rating approach according to your rules. We’ll also perform instant and frequent screening against Anti-Money Laundering (AML) watchlists, adverse media and sanctions lists.

Centrally collate, safely store, and efficiently manage your FICA processes & documentation

We believe that getting to Know Your Client doesn’t need to be inconvenient and admin intensive – for you or your client. With DocFox you get to perform (and store) all your customer due diligence and documents in one place – this means that no matter where you are, you can securely access all your clients’ important information at any time.

What does it mean to be fully FICA Compliant

The Financial Intelligence Centre Act (FICA) was introduced to fight financial crime, such as money laundering, tax evasion, and terrorist financing activities by making it more difficult for criminals to benefit from the proceeds of crime.

In the below post we aim to discuss examples of how to approach a risk assessment based on some identified risk factors. Some examples of identifying a client as high risk.

A vital process in the due diligence chain which is mandatory in FICAA is for Accountable Institutions to “Know your Customer” (KYC), which means identifying and verifying clients, whether that be a natural or juristic person. 

Property provides a secure, liquid asset for money launderers to make use of in their schemes and allows them to clean their illicitly gained funds through the purchase of a stable asset .

 The Property Practitioners Act No. 22 of 2019 (PPA), which has now formally replaced the Estate Agency Affairs Act No. 112 of 1976 (EAAA), came into operation on 1 February 2022.

Already time strapped and not sure where to start?

With DocFox’s FICA-in-a-Box, becoming FICA compliant doesn’t have to be admin intensive or time consuming. Read more here about how you can easily become (and remain) FICA compliant within days.

What our customers are saying