The Financial Intelligence Centre (FIC) recently published its 2025/26 Annual Report. Against a backdrop of increasing financial crime risks, expanding regulatory responsibilities and South Africa’s successful exit from the Financial Action Task Force (FATF) grey list, the FIC demonstrated strong operational performance, increased supervisory activity and measurable impact in combating money laundering, terrorist financing and illicit financial flows.
Strengthening the fight against financial crime
The FIC’s core mandate is the production of financial intelligence to support law enforcement, prosecutorial authorities, SARS and other competent authorities.
During 2025/26, the FIC produced 4 194 financial intelligence reports relating to the flow of financial transactions. These intelligence reports contributed to the recovery of approximately R37.5 million in criminal proceeds, while R34.2 million was blocked as suspected proceeds of criminal activity.
Forensic products also identified R77.2 million in proceeds of crime suitable for preservation, forfeiture or restraint.
Money laundering, fraud, bribery and corruption remained the dominant crime themes identified during the year, with 1 977 intelligence reports linked specifically to money laundering-related offenses.
Expanded supervision and compliance oversight
By year-end, 60 115 institutions were registered with the FIC, representing an increase of almost 9% compared to the previous financial year. The FIC now directly supervises more than 80% of all accountable institutions registered under the FIC Act.
To support a risk-based approach to supervision, the FIC conducted 549 inspections and completed 160 compliance review reports during the reporting period. The institution also continued to strengthen compliance awareness through 49 awareness initiatives attended by over 14 000 participants, focusing on key obligations such as Risk Management and Compliance Programmes (RMCPs), beneficial ownership, targeted financial sanctions screening and suspicious transaction reporting.
An important compliance milestone was the submission of 11 147 RMCPs by accountable institutions, reflecting growing industry engagement with Anti-Money Laundering and Counter-Terrorism Financing obligations.
South Africa’s exit from the FATF grey list
A significant development highlighted in the report was South Africa’s successful removal from the FATF grey list in October 2025. The FIC played a central role in the whole-of-government response to address the 22 FATF action items aimed at strengthening the country’s anti-money laundering and counter-terrorist financing framework.
South Africa has already entered the next FATF-ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group) mutual evaluation cycle, which commenced in June 2026 and will run until October 2027. Lessons learned during the grey-listing process continue to shape regulatory reforms, supervisory tools and collaborative partnerships.
Building partnerships and innovation
Collaboration remains a central feature of the FIC’s approach. Initiatives such as the Asset Recovery Hub, South African Anti-Money Laundering Integrated Task Force (SAMLIT), Inter-Agency Working Group on Illicit Financial Flows and the Reformed Fusion Centre have strengthened information sharing and operational co-ordination across government and the private sector. Since its establishment, the Asset Recovery Hub has secured eight forfeiture orders with a combined value exceeding R35 million.
The report also highlights investment in technology and innovation. The FIC upgraded its goAML registration and reporting platform, enhanced data governance capabilities and commenced broader testing of artificial intelligence and machine learning tools to improve analysis and intelligence production.
Looking ahead
The 2025/26 financial year reflects an organisation that is adapting to increasing demand, expanding supervision responsibilities and evolving financial crime threats. Through stronger intelligence production, enhanced compliance oversight, technological innovation and closer partnerships, the FIC continues to strengthen South Africa’s anti-money laundering and financial crime framework. As South Africa progresses through the next mutual evaluation cycle, the FIC remains a critical institution in the ongoing effort to protect the integrity of the country’s financial system and combat illicit financial activity.