Transcription of Identification and Verification
{{id}} {{{paragraph}}}
Example: marketing
Identification and Verification
Financial Intelligence Centre Guidance Note 3 AGuidance foraccountable institutionson clientidentification andverification and related mattersPREFACEM oney 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. These controlmeasures, as contained in the Financial Intelligence Centre Act, 2001 (the FIC Act ), are based on three basic principles of money laundering detectionand investigation, that: intermediaries in the financial system must know with whom they aredoing business; the paper trail of transactions through the financial system must bepreserved; possible money laundering transactions must be brought to theattention of investigating control measures introduced by the FIC Act include requirementsforinstitutions to establish and verify the i
demonstrate an equivalent level of compliance with the relevant obligations under the FIC Act. It is important to note that enforcement action may. FIC Guidance Note 3A for accountable institutions on customer identification and verification and related matters 3 ...
Loading..
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: