Directives 4
2019.3 - GN - Website Notice Directive 5 on the usage of an automated transaction monitoring system
Comment is invited on the draft directive, to reach the FIC by no later than Friday, 22 March 2019. (page 1)
This directive cross-references 2 linked laws.
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Low confidence2019.3 - GN - Website Notice Directive 5 on the usage of an automated transaction monitoring system
"(either manually by reviewing statements daily/as and when transactions occur or automatically through an automated transaction monitoring system) to identify possible reportable transactions (refer to Directive 5 and PCC 45)."
Cross-references
Low confidence2019.3 - GN - Website Notice Directive 5 on the usage of an automated transaction monitoring system
""Days" refer to all days of the week excluding Saturdays, Sundays and public holidays (aligned to the definition as set out in the MLTFC Regulations)"
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Financial Intelligence Centre
WEB NOTICE
Ref: 9/8/1/5
DRAFT DIRECTIVE ON THE USAGE OF AN AUTOMATED TRANSACTION MONITORING SYSTEM FOR THE DETECTION AND SUBMISSION OF REGULATORY REPORTS
(Friday, 1 March 2019): The Financial Intelligence Centre (FIC) has issued Draft Directive 5/2019 on the usage of an automated transaction monitoring system for the detection and submission of regulatory reports to the FIC in terms of section 29 of the FIC Act, 2001 (Act 38 of 2001).
The FIC has consulted with the Prudential Authority of the South African Reserve Bank on the draft directive, as required by section 43A of the FIC Act.
Comment is invited on the draft directive, to reach the FIC by no later than Friday, 22 March 2019. Please e-mail comments to the FIC via Consult@fic.gov.za.
For any other queries please contact the FIC's Compliance Contact Centre on 012 641 6000, select option 1, or submit a web query by clicking on: http://www.fic.gov.za/ContactUs/Pages/ComplianceQueries.aspx
Issued by:
The Financial Intelligence Centre