Guidance Notes 5
Guidance Note 8 - EFTs and Directive 1
Guidance provided by the Centre is the only form of guidance formally recognised in terms of the FIC Act and the Money Laundering and Terrorist Financing Control Regulations issued under the FIC Act (the MLTFC Regulations). (page 2)
This guidance note cross-references 7 linked laws.
Relationships in
No relationships recorded.
Relationships out
Cross-references
Low confidenceDirective 1 of 2022
"A qualifying electronic funds transfer refers to a cross-border electronic funds transfer that is a single transaction and is above the threshold of R10 000."
Read together with
Low confidenceDirective 1 of 2022
"This guidance note must be read together with the provisions of Directive 1 of 2022."
Cross-references
Low confidenceGuidance Note 6A - Terrorist property report obligations
Document
FIC
Financial Intelligence Centre
GUIDANCE NOTE 8
ON THE DIRECTIVE FOR CONDUCT WITHIN THE NATIONAL PAYMENT SYSTEM IN RESPECT OF THE FINANCIAL ACTION TASK FORCE RECOMMENDATIONS FOR ELECTRONIC FUNDS TRANSFERS (DIRECTIVE 1 OF 2022)
GUIDANCE NOTE 8
GUIDANCE NOTE 8
- ON THE DIRECTIVE FOR CONDUCT WITHIN THE NATIONAL PAYMENT SYSTEM IN RESPECT OF THE FINANCIAL ACTION TASK FORCE RECOMMENDATIONS FOR ELECTRONIC FUNDS TRANSFERS (DIRECTIVE 1 OF 2022)
PREFACE
i) The Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (FIC Act) places obligations on financial institutions and other businesses deemed vulnerable to money laundering and terrorist financing. The Prevention of Organised Crime Act, 1998 (Act 121 of 1998) (the POC Act) introduced the crime of money laundering and provides for the confiscation and forfeiture of the proceeds of crime. The Protection of Constitutional Democracy Against Terrorist and Related Activities Act, 2004 (Act 33 of 2004) (the POCDATARA Act) introduced measures to address the financing of acts of terrorism.