Compliance Services
Our FICA Compliance Subscription services Include:
Compliance Experts on Call
Get unlimited access to our compliance team for any FICA related questions via the chat function inside the DocFox App, email, or phone.
Expertly Crafted RMCP
Need an RMCP that is tailored to your industry? Let our team assist you with that and a step by step guide to implementing it. The RMCP will address key FICA requirements.
Annual Compliance Review
As compliance & businesses are ever changing, each year we will provide you with a deep dive into the FICA due diligence and DocFox compliance within your organisation.
Certified FICA Training
Select from a range of FICA training which covers the latest in money laundering, terrorist financing, and the FIC Amendment Act.
Trainings are FPI approved for CPD points.
Project Services
Access to additional project services for more complex tasks. Eg. Guidance on finding the UBO and assistance in prepping for a FIC inspection.
NewsWatch Newsletters
Signing up for any of our compliance services will also include access to weekly and monthly hints, tips, guidance, and intelligent comment around a variety of topics and current news developments.
How Does DocFox Work?
DocFox simplifies FICA compliance and ensures you are audit ready at the touch of a button. We provide accountable institutions with the software and the expertise to be compliant, always.
FICA Project Services
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.*
Preparation for a FIC Inspection
Whilst most inspections are arranged in advance, the FIC and supervisory bodies have the right to inspect any Accountable Institution 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 a 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.
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.
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 a new Risk Management and Compliance Programme (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 enforced consistently throughout your business.
If you do not already 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.
RMCP Review and Opinion
The FIC Act requires all Accountable Institutions to document, implement and maintain an RMCP and should ultimately 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.
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