This Act has not yet come into force in full. See the Document detail tab for more information.
This is the version of this Act as it was from 2 October 2017 to 6 May 2018. Read the latest available version.
Taxonomies
- Subject areas > Business, Trade and Industry
- Subject areas > Energy and Natural Resources
- Subject areas > Environment, Climate and Wildlife
- Subject areas > Finance and Money
Related documents
South Africa
Financial Intelligence Centre Act, 2001
Act 38 of 2001
- Published in Government Gazette 22886 on 3 December 2001
- Assented to on 28 November 2001
- There are multiple commencements
- [This is the version of this document as it was from 2 October 2017 to 6 May 2018.]
Provisions | Status |
---|---|
Section 1; Chapter 1 (section 2–16); Chapter 2 (section 17–20); Chapter 5, section 72–78, section 80–82 | commenced on 1 February 2002 by Proclamation 6 of 2002. |
Unknown provisions |
commenced on 1 March 2002
by Proclamation 17 of 2002.
Note: Date of commencement of Schedules 1, 2 and 3 |
Chapter 3, Part 3, section 27, section 29, section 32–41; Part 5 (section 44–45); Chapter 4, section 50, section 52–53, section 57–60, section 63–67, section 68(1), section 69, section 71; Chapter 5, section 79 | commenced on 3 February 2003 by Proclamation 5 of 2003. |
Chapter 3, Part 1, section 21(1); Part 2 (section 22–26); Part 4 (section 42–43); Chapter 4, section 46(1), section 47, section 48–49, section 61–62, section 68(2) | commenced on 30 June 2003 by Proclamation 51 of 2003. |
Chapter 3, Part 1, section 21(2) |
commenced on 30 June 2004.
Note: See section 82(2)(b) |
Chapter 4, section 46(2) | commenced on 1 July 2004 by Proclamation 36 of 2004. |
Chapter 3, Part 3, section 28A, section 29(1)(b)(v) | commenced on 20 May 2005. |
Chapter 3, Part 3, section 28; Chapter 4, section 51 | commenced on 4 October 2010 by Proclamation R55 of 2010. |
Section 1A; Chapter 1, section 3(2)(c), section 4(e), 4(f), 4(g); Chapter 3, Part 3, section 40(7); Part 4, section 43A, section 43B; Part 5, section 45(1A), 45(1B), 45(1C), 45(1D); Chapter 4, section 45A, section 45B–45F, section 51A, section 57(a), 57(b), section 61A, section 62A–62D | commenced on 1 December 2010. |
Chapter 1, section 3(2)(a)(i), 3(2)(a)(ii), 3(2)(a)(iii), 3(2)(a)(iv), 3(2)(a)(v), 3(2)(a)(iv), 3(2)(a)(vii), 3(2)(a)(viii), 3(2)(a)(ix), 3(2)(a)(x), section 4(aA), 4(b)(i), 4(b)(ii), 4(b)(iii), 4(b)(iv), 4(b)(v), 4(b)(vi), 4(b)(vii), 4(b)(viii), 4(b)(ix), 4(b)(x); Chapter 3, Part 3, section 27(d), 27(e), section 34(1)(a)(i), 34(1)(a)(ii), 34(1)(b)(i), 34(1)(b)(ii), section 40(1)(aA), 40(1)(aB), 40(1)(aC), 40(1)(aD), 40(1)(aE), 40(1)(aF), 40(1)(aG), 40(1)(aH), 40(1A), 40(1B), 40(1C), 40(6)(a), 40(6)(b), 40(8), 40(9), section 41A; Part 4, section 42B, section 43A(1)(a), 43A(1)(b), 43A(2)(a), 43A(2)(b), 43A(7); Part 5, section 45(1D)(a), 45(1D)(b); Chapter 4, section 45B(1)(a), 45B(1)(b), 45B(1A), 45B(1B), 45B(1C), 45B(1D), 45B(1E), 45B(2A), 45B(2B), 45B(2C), section 45D(1)(c), 45D(3A), 45D(3B), 45D(3C), 45D(3D), 45D(3E), 45D(6A), 45D(6B), section 51(1), 51(2), section 58(1), 58(2), section 60(1)(d), section 62E; Chapter 5, section 74(3), section 77(5), section 77A | commenced on 13 June 2017. |
Chapter 3, Part 1, section 20A, section 21A–21H; Part 2, section 22(2)(a), 22(2)(b), section 22A, section 23(c), section 24(4); Part 3, section 27A; Part 4, section 42(2)(a), 42(2)(b), 42(2)(c), 42(2)(d), 42(2)(e), 42(2)(f), 42(2)(g), 42(2)(h), 42(2)(i), 42(2)(j), 42(2)(k), 42(2)(l), 42(2)(m), 42(2)(n), 42(2)(o), 42(2)(p), 42(2)(q), 42(2)(r), 42(2)(s), 42(2A), 42(2B), 42(2C), section 42A; Chapter 4, section 46A, section 61(aA), 61(aB), section 61B; Chapter 5, section 79A–79B | commenced on 2 October 2017. |
Chapter 3, Part 3, section 31; Chapter 4, section 56 | commenced on 1 February 2023 by Proclamation 111 of 2023. |
Chapter 3, Part 3, section 30; Chapter 4, section 54–55, section 70 | not yet commenced. |
- [Amended by Protection of Constitutional Democracy against Terrorist and Related Activities Act, 2004 (Act 33 of 2004) on 20 May 2005]
- [Amended by Financial Intelligence Centre Amendment Act, 2008 (Act 11 of 2008) on 1 December 2010]
- [Amended by Financial Intelligence Centre Act, 2001: Amendment of Schedule 1 (Government Notice 1104 of 2010) on 1 December 2010]
- [Amended by Financial Intelligence Centre Act, 2001: Amendment of Schedule 2 (Government Notice 1105 of 2010) on 1 December 2010]
- [Amended by General Intelligence Laws Amendment Act, 2013 (Act 11 of 2013) on 29 July 2013]
- [Amended by Financial Intelligence Centre Amendment Act, 2017 (Act 1 of 2017) on 13 June 2017]
- [Amended by Financial Intelligence Centre Amendment Act, 2017 (Act 1 of 2017) on 2 October 2017]
1. Definitions
1A. Application of Act when in conflict with other laws
If any conflict, relating to the matters dealt with in this Act, arises between this Act and the provisions of any other law existing at the commencement of this Act, save the Constitution, the provisions of this Act prevail.[section 1A inserted by section 2 of Act 11 of 2008]Chapter 1
Financial Intelligence Centre
2. Establishment
3. Objectives
4. Functions
To achieve its objectives the Centre must—5. General powers
6. Appointment of Director
7. Removal from office
8. Acting Director
When the Director is absent or otherwise unable to perform the functions of office, or during a vacancy in the office of Director, the Minister may designate another employee of the Centre to act as Director.9. Proof of appointment
If the Minister has given notice in the Gazette of any appointment of a person as the Director or as acting director, this notice may be presented in a Court as proof of the appointment.10. Responsibilities of Director
11. Staff
12. Security screening of staff of Centre other than Director
13. Security screening of Director of Centre
14. Funds and financial year of Centre
15. Audit
The Auditor-General must audit and report on the accounts and financial records of the Centre.16. Delegation
Chapter 2
***
17 ***
[section 17 repealed by section 5 of Act 1 of 2017]18 ***
[section 18 repealed by section 5 of Act 1 of 2017]19 ***
[section 19 repealed by section 5 of Act 1 of 2017]20 ***
[section 20 repealed by section 5 of Act 1 of 2017]Chapter 3
Control measures for money laundering and financing of terrorist and related activities
[heading substituted by section 27(1) of Act 33 of 2004]Part 1 – Customer due diligence
[heading substituted by section 7 of Act 1 of 2017]20A. Anonymous clients and clients acting under false or fictitious names
An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name.[section 20A inserted by section 8 of Act 1 of 2017]21. Identification of clients and other persons
21A. Understanding and obtaining information on business relationship
When an accountable institution engages with a prospective client to establish a business relationship as contemplated in section 21, the institution must, in addition to the steps required under section 21 and in accordance with its Risk Management and Compliance Programme, obtain information to reasonably enable the accountable institution to determine whether future transactions that will be performed in the course of the business relationship concerned are consistent with the institution’s knowledge of that prospective client, including information describing—21B. Additional due diligence measures relating to legal persons, trusts and partnerships
21C. Ongoing due diligence
An accountable institution must, in accordance with its Risk Management and Compliance Programme, conduct ongoing due diligence in respect of a business relationship, which includes—21D. Doubts about veracity of previously obtained information
When an accountable institution, subsequent to entering into a single transaction or establishing a business relationship, doubts the veracity or adequacy of previously obtained information which the institution is required to verify as contemplated in sections 21 and 21B, the institution must repeat the steps contemplated in sections 21 and 21B in accordance with its Risk Management and Compliance Programme and to the extent that is necessary to confirm the information in question.[section 21D inserted by section 10 of Act 1 of 2017]21E. Inability to conduct customer due diligence
21F. Foreign prominent public official
If an accountable institution determines in accordance with its Risk Management and Compliance Programme that a prospective client with whom it engages to establish a business relationship, or the beneficial owner of that prospective client, is a foreign prominent public official, the institution must—21G. Domestic prominent influential person
If an accountable institution determines that a prospective client with whom it engages to establish a business relationship, or the beneficial owner of that prospective client, is a domestic prominent influential person and that, in accordance with its Risk Management and Compliance Programme, the prospective business relationship entails higher risk, the institution must—21H. Family members and known close associates
Part 2 – Duty to keep record
22. Obligation to keep customer due diligence records
22A. Obligation to keep transaction records
23. Period for which records must be kept
An accountable institution must keep the records which relate to—24. Records may be kept in electronic form and by third parties
25. Admissibility of records
A record kept in terms of section 22, 22A or 24, or a certified extract of any such record, or a certified print-out of any extract of an electronic record, is on its mere production in a matter before a court admissible as evidence of any fact contained in it of which direct oral evidence would be admissible.[section 25 substituted by section 15 of Act 1 of 2017]26. ***
[section 26 amended by section 7 of Act 11 of 2008 and repealed by section 16 of Act 1 of 2017]Part 3 – Reporting duties and access to information
27. Accountable institutions, reporting institutions and persons subject to reporting obligations to advise Centre of clients
If an authorised representative of the Centre requests an accountable institution, a reporting institution or a person that is required to make a report in terms of section 29 of this Act to advise—27A. Powers of access by authorised representative to records in respect of reports required to be submitted to Centre
28. Cash transactions above prescribed limit
An accountable institution and a reporting institution must, within the prescribed period, report to the Centre the prescribed particulars concerning a transaction concluded with a client if in terms of the transaction an amount of cash in excess of the prescribed amount—28A. Property associated with terrorist and related activities
29. Suspicious and unusual transactions
30. Conveyance of cash to or from Republic
31. Electronic transfers of money to or from Republic
If an accountable institution through electronic transfer sends money in excess of a prescribed amount out of the Republic or receives money in excess of a prescribed amount from outside the Republic on behalf, or on the instruction, of another person, it must, within the prescribed period after the money was transferred, report the transfer, together with the prescribed particulars concerning the transfer, to the Centre.32. Reporting procedures and furnishing of additional information
33. Continuation of transactions
An accountable institution, reporting institution or person required to make a report to the Centre in terms of section 28 or 29, may continue with and carry out the transaction in respect of which the report is required to be made unless the Centre directs the accountable institution, reporting institution or person in terms of section 34 not to proceed with the transaction.34. Intervention by Centre
35. Monitoring orders
36. Information held by supervisory bodies and South African Revenue Service
37. Reporting duty and obligations to provide information not affected by confidentiality rules
38. Protection of persons making reports
39. Admissibility as evidence of reports made to Centre
A certificate issued by an official of the Centre that information specified in the certificate was reported or sent to the Centre in terms of section 28, 29, 30(2) or 31 is, subject to section 38(3), on its mere production in a matter before a court admissible as evidence of any fact contained in it of which direct oral evidence would be admissible.40. Access to information held by Centre
41. Protection of confidential information
No person may disclose confidential information held by or obtained from the Centre except—41A. Protection of personal information
Part 4 – Measures to promote compliance by accountable institutions
42. Risk Management and Compliance Programme
42A. Governance of anti-money laundering and counter terrorist financing compliance
42B. Consultation process for issuing guidance
Before issuing guidance to accountable institutions, supervisory bodies and other persons regarding the performance and compliance by them of their duties and obligations in terms of this Act or any directive made in terms of this Act, the Centre must—43. Training relating to anti-money laundering and counter terrorist financing compliance
An accountable institution must provide ongoing training to its employees to enable them to comply with the provisions of this Act and the Risk Management and Compliance Programme which are applicable to them.[section 43 substituted by section 29 of Act 1 of 2017]43A. Directives
43B. Registration by accountable institution and reporting institution
Part 5 – Referral and supervision
44. Referral of suspected offences to investigating authorities and other public bodies
If the Centre in the performance of its functions has reasonable grounds to suspect that an accountable institution, or any other person other than a supervisory body who is subject to the provisions of this Act, has contravened or failed to comply with any provision of this Act or any rule or guideline applicable to that accountable institution or person which facilitates compliance with this Act, it may, if it considers it appropriate to do so, refer the matter to—45. Responsibility for supervision of accountable institutions
Chapter 4
Compliance and enforcement
[heading substituted by section 16(a) of Act 11 of 2008]45A. Appointment of inspectors
45B. Inspections
45C. Administrative sanctions
45D. Appeal
45E. Establishment of appeal board
45F. Application to court
46. Failure to identify persons
46A. Failure to comply with duty in regard to customer due diligence
An accountable institution that fails to comply with the duty to perform additional due diligence measures in accordance with section 21A, 21B, 21C, 21D, 21E, 21F, 21G or 21H is non-compliant and is subject to an administrative sanction.[section 46A inserted by section 36 of Act 1 of 2017]47. Failure to keep records
An accountable institution that fails to—48. Destroying or tampering with records
Any person who wilfully tampers with a record kept in terms of section 22 or section 24(1), or wilfully destroys such a record, otherwise than in accordance with section 23, is guilty of an offence.49. Failure to give assistance
An accountable institution that fails to give assistance to a representative of the Centre in accordance with section 27A(5), is guilty of an offence.[section 49 substituted by section 38 of Act 1 of 2017]50. Failure to advise Centre of client
An accountable institution, reporting institution or person that is required to make a report in terms of section 29 that fails to inform the Centre in accordance with section 27, is guilty of an offence.[section 50 substituted by section 40 of Act 1 of 2017]51. Failure to report cash transactions
51A. Failure to report property associated with terrorist and related activities
52. Failure to report suspicious or unusual transactions
53. Unauthorised disclosure
54. Failure to report conveyance of cash or bearer negotiable instrument into or out of Republic
Any person who wilfully fails to report the conveyance of cash or a bearer negotiable instrument into or out of the Republic in accordance with section 30(1), is guilty of an offence.[section 54 substituted by section 18 of Act 11 of 2008]55. Failure to send report to Centre
A person referred to in section 30(2) who fails to send a report regarding the conveyance of cash or a bearer negotiable instrument to the Centre in accordance with that section, is guilty of an offence.[section 55 substituted by section 19 of Act 11 of 2008]56. Failure to report electronic transfers
An accountable institution that fails to report to the Centre the prescribed information in respect of an electronic transfer of money in accordance with section 31, is guilty of an offence.57. Failure to comply with request
An accountable institution, reporting institution or any other person that fails to comply with a request made by—58. Failure to comply with direction of Center
59. Failure to comply with monitoring order
An accountable institution that fails to comply with an order by a judge in accordance with section 35, is guilty of an offence.60. Misuse of information
61. Failure to comply with duty in respect of Risk Management and Compliance Programme
An accountable institution that fails to—61A. Failure to register with Centre
Any accountable institution or reporting institution that—61B. Failure to comply with duty in regard to governance
62. Failure to provide training
An accountable institution that fails to provide training to its employees in accordance with section 43 is non-compliant and is subject to an administrative sanction.[section 62 substituted by section 48 of Act 1 of 2017]62A. Offences relating to inspection
A person who—62B. Hindering or obstructing appeal board
Any person who wilfully interrupts the proceedings of the appeal board or who wilfully hinders or obstructs the appeal board in the performance of its functions, is guilty of an offence.[section 62B inserted by section 24 of Act 11 of 2008]62C. Failure to attend when summoned
Any person who, having been summoned to attend and give evidence or to produce any book, document or object before the Centre or a supervisory body or the appeal board—62D. Failure to answer fully or truthfully
Any person who, having been sworn in or having made an affirmation before the Centre or a supervisory body or the appeal board—62E. Failure to comply with directives of Centre or supervisory body
An accountable institution that fails to comply with a directive of the Centre or a supervisory body in terms of section 43A(3) or 45C(3)(c) is non-compliant and is subject to an administrative sanction.[section 62E inserted by section 49 of Act 1 of 2017]63. Obstructing of official in performance of functions
Any person who obstructs, hinders or threatens an official or representative of the Centre in the performance of their duties or the exercise of their powers in terms of this Act, is guilty of an offence.64. Conducting transactions to avoid reporting duties
Any person who conducts, or causes to be conducted, two or more transactions with the purpose, in whole or in part, of avoiding giving rise to a reporting duty under this Act, is guilty of an offence.65. Unauthorised access to computer system or application or data
66. Unauthorised modification of contents of computer system
Any person who, without authority to do so, wilfully causes a computer system that belongs to, or is under the control of, the Centre, or any application or data held in such a computer system, to be modified, destroyed, erased or the operation or reliability of such a computer system, application or data to be otherwise impaired, is guilty of an offence.67. Definitions
For the purposes of sections 65 and 66—68. Penalties
69. Defences
If a person who is an employee, director or trustee of, or a partner in, an accountable institution is charged with committing an offence under section 52, that person may raise as a defence the fact that he or she had—70. Search, seizure and forfeiture
71. Jurisdiction of courts
Chapter 5
Miscellaneous
72. Act not to limit powers of investigating authorities or supervisory bodies
This Act does not detract from—73. Amendment of list of accountable institutions
74. Exemptions for accountable institutions
75. Amendment of list of supervisory bodies
76. Amendment of list of reporting institutions
77. Regulations
77A Arrangements for consultations with stakeholders
The Centre must, after consulting with supervisory bodies, establish and give effect to arrangements to facilitate consultation with, and the exchange of information with, relevant stakeholders on matters of mutual interest.[section 77A inserted by section 57 of Act 1 of 2017]78. Indemnity
The Minister, the Centre or an employee or representative of the Centre, or any other person performing a function or exercising a power in terms of this Act, is not liable for anything done in good faith in terms of or in furthering the objectives of this Act.79. Amendment of laws
The Acts mentioned in Schedule 4 are hereby amended to the extent set out in Schedule 4.79A. Amendment of list of domestic prominent influential persons
79B. Amendment of list of foreign prominent public officials
80. Status of footnotes
The footnotes in this Act have been inserted only for ease of reference to relevant provisions of the Prevention Act. They are not part of this Act. They do not have the force of law.81. Transitional arrangements
82. Short title and commencement
History of this document
18 August 2023
01 February 2023
31 December 2022
19 December 2022
01 December 2021
Amended by
Cybercrimes Act, 2020
Read this version
01 April 2019
07 May 2018
02 October 2017 this version
Commenced
13 June 2017
29 July 2013
01 December 2010
04 October 2010
20 May 2005
01 July 2004
30 June 2004
Commenced
Note: See section 82(2)(b)
30 June 2003
03 February 2003
01 March 2002
Commenced by
Financial Intelligence Centre Act, 2001: Commencement
Note: Date of commencement of Schedules 1, 2 and 3
01 February 2002
03 December 2001
28 November 2001
Assented to