The Financial Intelligence Centre (FIC) has been preparing to launch its new registration and reporting system called ‘goAML’. The system is set to go live on 25 April 2016. In December 2015 the FIC requested all Accountable and Reporting Institutions to test the new system.
Institutions already registered with FIC
The FIC will facilitate a take-on process for institutions which were already registered with the FIC as at 07 March 2016. This take-on process was started on Wednesday, 30 March 2016 and will continue until Friday, 22 April 2016. The FIC have confirmed that once an institution has been “taken-on” to the new system, the institution will be provided with an entity registration identity (Org ID). The FIC Reference number therefore falls away and only the Org ID can be used to log into the system. Once an institution receives their Org ID, they must log in to the new system and update their registration related information.
Important Information to consider for the FIC’s goAML system:
- S43 Compliance Officer (S43CO)
An accountable or reporting institution must have one appointed S43 Compliance Officer (S43CO). This appointed person will be responsible to maintain and update information on the goAML system.
- Money Laundering Reporting Officers (MLROs)
An accountable or reporting institution (AI/RI) is also able to appoint any number of Money Laundering Reporting Officers. These must be approved by the S43CO. The MLRO is a person, other than the S43CO, with the responsibility and authority to submit intelligence reports to the Centre on behalf of the accountable or reporting institution. Not all AI/RIs will have MLROs. Smaller institutions do not necessarily need to have MLROs, only larger institutions that have more reports will have both S43COs and MLROs. The MLROs will have their own login credentials. All registrations must be approved by the Centre prior to activation.
- Approved Supporting Documentation
The FIC will also require certain supporting documentation such as a certified identity document and authorisation letter for the S43CO and, if applicable, the MLROs. Only once this documentation has been verified and approved by the FIC will the S43CO receive an email to allow such CO to update the organisational information on the system.
Please contact your Masthead Compliance Officer should you need help with this process.
The current system is now closed for new registrations. The last day on which accountable and reporting institutions were able to register on the old system with the FIC was Wednesday, 30 March 2016. Any new registrations will now need to take place on the new goAML system.
Accountable and reporting institutions have until 17h00 on Friday, 22 April 2016 to submit reports on the current reporting system. Those institutions which have already registered on the “old” system can submit reports using their normal login details.
NOTE: Institutions which registered after 30 March 2016 on the new goAML system must contact the FIC to obtain temporary login credentials to file reports on the current (“old”) reporting system. These login credentials will lapse on Friday 22 April 2016.
All corrections and amendments which have to be made on the new goAML system will be allowed until 15 May 2016.