Public Compliance Communications 36
PCC 58 - Interpretation of high-value goods dealers
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued in terms of the FIC Act. (page 2)
This public compliance communication cross-references 7 linked laws.
Relationships in
No relationships recorded.
Relationships out
Cross-references
Low confidenceGuidance Note 5C - Submitting CTRs to the FIC
"Refer to Guidance Note 5C."
Cross-references
Low confidencePCC 5D - Registration with the Financial Intelligence Centre
"Refer to PCC 5D."
Linked legislation
Cross-references
Low confidence26B
Used in the current RMCP catalogue
This publication is referenced by the current RMCP citation catalogue. The catalogue records the source URL, corpus SHA-256, publication status, and corpus sync timestamp used when RMCP starter documents are assembled.
- PCC 58
Document
FIC
Financial Intelligence Centre
PUBLIC COMPLIANCE COMMUNICATION
PUBLIC COMPLIANCE COMMUNICATION
No. 58
GUIDANCE ON THE INTERPRETATION OF HIGH-VALUE GOODS DEALERS, ITEM 20 OF SCHEDULE 1 TO THE FINANCIAL INTELLIGENCE CENTRE ACT, 2001 (ACT 38 OF 2001) AND POTENTIAL RISK INDICATORS
Public Compliance Communication 58 guidance on the interpretation of high value goods dealers in terms of Schedule 1 of the Financial Intelligence Centre Act and potential risk indicators.
Page 2 of 15
PCC SUMMARY
A "high-value goods dealer" (HVGD) is listed in item 20 of Schedule 1 to the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (FIC Act) as a person who carries on the business of dealing in high-value goods in respect of any transaction where such a business receives payment in any form to the value of R100 000 or more, whether the payment is made in a single operation or in more than one operation that appears to be linked, where "high-value goods" means any item that is valued in that business at R100 000 or more.