FICA
The FINANCIAL INTELLIGENCE CENTRE ACT, 38 of 2001, commonly referred to as FICA, came into operation on 01 February 2002 and established a Financial Intelligence Centre and a Counter-Money Laundering Advisory Council in order to combat money laundering activities and the financing of terrorist and related activities, to impose certain duties on institutions and other persons who might be used for money laundering purposes and the financing of terrorist and related activities, to clarify the application of the Act in relation to other laws, to provide for the sharing of information by the Centre and supervisory bodies, to provide for the issuance of directives by the Centre and supervisory bodies, to provide for the registration of accountable and reporting institutions, to provide for the roles and responsibilities of supervisory bodies, to provide for written arrangements relating to the respective roles and responsibilities of the Centre and supervisory bodies, to provide the Centre and supervisory bodies with powers to conduct inspections, to regulate certain applications to Court, to provide for administrative sanctions that may be imposed by the Centre and supervisory bodies, to establish an appeal board to hear appeals against decisions of the Centre or supervisory bodies, to amend the Prevention of Organised Crime Act, 1998, and the Promotion of Access to Information Act, 2000 and to provide for matters connected therewith.
With effect from 01 December 2010, Attorneys were identified, under the Regulations of FICA, as Accountable Institutions to the Financial Intelligence Centre and upon registration as such with the Financial Intelligence Centre, a unique Registration Number is assigned to each law firm. We are an Accountable Institution to the Financial Intelligence Centre with reporting entity number 53049.