Public Compliance Communications 10
PCC 30 - Customer identification and verification of casino junket agents
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. (page 1)
This public compliance communication cross-references 3 linked laws.
Relationships in
No relationships recorded.
Relationships out
No relationships recorded.
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 1
"2.6 The definition of "single transaction" contained in section 1 of the FIC Act is as follows: "A transaction other than a transaction conducted in the course of a business relationship."
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 21
"irectly or indirectly through the junket agent, the identity of the junket's client that will be participating in gambling activity needs to be established and verified in accordance with section 21 of the FIC Act read in conjunction with the requirements of regulations 3, 4, 5 and 6 of the Regulations. 2.9 In terms of exemption 13 of the Exemptions to the FIC Act, the gambling institution (as an"
Document
financial intelligence centre
REPUBLIC OF SOUTH AFRICA
PUBLIC COMPLIANCE COMMUNICATION No. 30 (PCC30) – CUSTOMER IDENTIFICATION AND VERIFICATION OF CASINO JUNKET AGENTS AND THEIR UNDERLYING CLIENTS IN TERMS OF THE FINANCIAL INTELLIGENCE CENTRE ACT, ACT NO. 38 OF 2001, AS AMENDED
The Financial Intelligence Centre (the Centre) provides the guidance contained in this Public Compliance Communication (PCC) in terms of its statutory function under section 4(c) of the Financial Intelligence Centre Act, Act No. 38 of 2001, as amended (the FIC Act) read together with Regulation 28 of the Money Laundering and Terrorist Financing Control Regulations (the Regulations) issued in terms the FIC Act.
Section 4(c) of the FIC Act empowers the Centre to provide guidance in relation to a number of matters concerning compliance with the obligations of the FIC Act.
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Regulations issued under the FIC Act. Guidance provided by the Centre is authoritative in nature. An accountable institution must comply with the FIC Act and Regulations read with guidance issued by the Centre, and where there is a departure explain the reasons for not adhering to the guidance provided by the Centre. It is important to note that enforcement action may emanate as a result of non-compliance with the FIC Act in areas where there have been non-compliance with the guidance provided by the Centre.