The Financial Intelligence Centre (FIC) has formally issued Directive 11 of 2026, introducing updated requirements for the submission of Risk and Compliance Returns (RCRs).
Directive 11 of 2026 came into effect on 1 April 2026, with submissions commencing on 4 May 2026. The Directive applies to all accountable institutions referred to in items 1, 2, 3, 9, 11 (excluding banks, mutual banks and co-operative bank credit providers), 14, 20, 21, and 22 of Schedule 1 of the FIC Act (specified accountable institutions). The directive outlines both the format and method for submitting RCRs as well as the reporting periods and applicable deadlines.
The specified accountable institutions must adhere to the strict submission deadlines. RCRs must be submitted either by 30 June 2026 or 31 July 2026 depending on the specified category of business. Missing these deadlines may expose institutions to additional regulatory scrutiny.
The RCR itself is a comprehensive self-assessment questionnaire designed to assess: an institutions’ understanding, implementation and compliance with anti-money laundering (AML), counter-terrorist financing (CTF) and proliferation financing (PF) obligations. It covers areas such as risk management frameworks, customer due diligence practices, reporting controls, and governance structures. This is not merely a reporting exercise, it is a reflection of the effectiveness of their internal compliance systems.
The information provided in RCRs will assist the FIC’s understanding of these specified institutions and their levels of risk exposure, so that appropriate risk-based approach supervision may be applied. Christopher Malan, FIC Executive Manager for Compliance and Prevention, said: “The inputs from the first round of RCRs which began in 2023 provided valuable insights into the ML, TF and PF risks businesses faced at an individual and sector-wide level. The same is expected to be obtained from this round of RCRs.
Directive 11 of 2026 reinforces the FIC’s ongoing focus on strengthening South Africa’s AML regime.
To read the Media Release on the submission dates for the 2026 Risk and Compliance Returns, click here.
Do you need help getting your RCR ready for submission?
With deadlines of 30 June and 31 July 2026, missing the mark could mean unnecessary regulatory scrutiny.
We offer practical, hands-on support to help you meet your RCR obligations, including:
- Assessing and enhancing your RMCP
- Providing FICA training and advisory support
- Guiding you through the RCR preparation and submission process
We recommend starting your preparation early to allow enough time to review your processes and address any gaps ahead of your submission deadline.