Identification and Verification

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Financial Intelligence Centre Guidance Note 3AGuidance foraccountable institutionson clientidentification andverification and related mattersPREFACEMoney laundering has been criminalised in section 4 of the Prevention ofOrganised Crime Act, money laundering offence may be describedas the performing of any act that may result in concealing the nature of theproceeds of crime or of enabling a person to avoid prosecution or in thediminishing of the proceeds of from criminalising the activities constituting money laundering, SouthAfrican law also contains a number of control measures aimed at facilitatingthe detection and investigation of money laundering.

identification and verification and related matters 8 accurately identify truly suspicious behavior or relationships and transactions that pose a risk of money laundering, on the basis of a broader profile of the client than the mere client identification particulars. The information that an accountable institution must obtain in such ...

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