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Directive 8 of 2023: Screening of prospective and current employees

Government Notice 3257 of 2023

Directive 8 of 2023: Screening of prospective and current employees
Citation
Government Notice 3257 of 2023
Primary work
Financial Intelligence Centre Act, 2001
Date
31 March 2023
Language
English
Type
Government Notice
Publication
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South Africa
Financial Intelligence Centre Act, 2001

Directive 8 of 2023: Screening of prospective and current employees

Government Notice 3257 of 2023

1. Purpose of the Directive

1.1The purpose of this Directive is to require accountable institutions to screen prospective employees and current employees for competence and integrity, as well as to scrutinise employee information against the targeted financial sanctions lists, in order to identify, assess, monitor, mitigate and manage the risk of money laundering, terrorist financing and proliferation financing.

2. Directive

2.1This Directive is issued by the Financial Intelligence Centre (FIC) in terms of section 43A(1) of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (the FIC Act.)
2.2This Directive applies to all accountable institutions.
2.3Accountable institutions must screen prospective employees and current employees for competence and integrity periodically, in a risk-based manner.
2.4An accountable institution must scrutinise information concerning its prospective employees and current employees upon notice being given by the Director under section 26A(3) of the FIC Act, to determine whether any such prospective employee or current employee, is a person mentioned in the notice by the Director.
2.5The accountable institution must provide for, and record, the manner in which screening for competence and integrity, as well as the manner in which scrutinising of employee information against targeted financial sanctions lists in terms of paragraph 2.3 and 2.4, will be conducted.
2.6An accountable institution must keep a record of the outcome of the screening for competence and integrity as well as the scrutinising of employee information against targeted financial sanctions lists as required in terms of paragraph 2.3. and 2.4.
2.7The records relating to both the manner and outcomes of the screening and scrutinising of employee information as required in terms of paragraph 2.5 and 2.6 must, on request, be made available to the FIC or a supervisory body which performs regulatory or supervisory functions in respect of that accountable institution.

3. Effective date and non-compliance

3.1This Directive becomes effective on date of publication in the Government Gazette.
3.2Failure to comply with this Directive may result in the imposition of an administrative sanction, in accordance with section 45C of the FIC Act.
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31 March 2023 this version
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