The Financial Intelligence Centre (FIC) recently published draft Public Compliance Communication 5D (Draft PCC 5D) which provides guidance on the registration requirement in terms of section 43B of the Financial Intelligence Centre Act (FICA).
The draft PCC provides guidance to accountable institutions on how to register with the FIC and further, provides guidance on the acquisition of login credentials by any other business with a suspicious and unusual reporting obligation.
The draft PCC 5D was issued in response to the amended Schedule 1 of FICA, which came into effect on 19 December 2022. All accountable institutions listed in Schedule 1 are required to register with the Centre.