Public Compliance Communications 21
PCC 50 - Mitigation of loss of intelligence
This PCC guides reporters on certain measures required for the mitigation of lost intelligence data due to the Financial Intelligence Centre (Centre), where a report ought to have been filed and the reporter fails to file the report, or where a reporter files a defective report. (page 2)
This public compliance communication cross-references 7 linked laws.
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Cross-references
Low confidenceDirective 3 of 2014
""Directive 3" refers to the Directive 3 of 2014 on the notification of failure to report as required by the Financial Intelligence Centre in terms of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001), issued in terms of section 43A of the FIC Act and published in Government Gazette Notice 783 of 12 September 2014."
Read together with
Low confidenceDirective 3 - Notification of failure to report as required by the FIC
"1.9 This PCC 50 must be read together with the provisions of Directive 3 and goAML Notice 4A."
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FIC
Financial Intelligence Centre
PUBLIC COMPLIANCE COMMUNICATION
PUBLIC COMPLIANCE COMMUNICATION 50 (PCC 50)
GUIDANCE ON THE MEASURES REQUIRED FOR THE MITIGATION OF LOSS OF INTELLIGENCE DATA DUE TO REPORTING FAILURES
Public Compliance Communication Number 50 Guidance on the measures required for the mitigation of loss of intelligence data due to reporting failures
Page 2 of 16
PCC SUMMARY
This PCC guides reporters on certain measures required for the mitigation of lost intelligence data due to the Financial Intelligence Centre (Centre), where a report ought to have been filed and the reporter fails to file the report, or where a reporter files a defective report. In both these instances the reporter is required to remediate the reporting failure as soon as possible. A defective report includes a rejected report owing to validation failures or where the data submitted in the report is inaccurate or false.