FICA Compliance & Verification Support

What is FICA?

FICA refers to the Financial Intelligence Centre Act, 38 of 2001 — South Africa's principal anti-money laundering and counter-terrorist financing legislation. FICA obliges accountable institutions to identify and verify clients, understand the nature and purpose of business relationships, keep records, apply a risk-based approach and report certain activities to the Financial Intelligence Centre.

How FICA Relates to KYC

FICA operationalises KYC in the South African context. It requires accountable institutions to establish and verify client identity, residential and business information, and — for corporate clients — beneficial ownership. Our verification services supply the confirmed information and documentation that support these requirements.

Important Limitations

GlobalDoc Verify is not the Financial Intelligence Centre (FIC) and is not a supervisory body. We do not accept regulatory reports; the FICA reporting obligations of accountable institutions — such as suspicious transaction reports — remain with those institutions. Our role is strictly verification and compliance support.

What We Verify / Review

• Client identity documents
• Residential and contact information
• Business registration information
• Beneficial ownership identification support
• Documentation for risk-based records
• Supporting compliance documentation

How the Process Works

1. 1Collect required client information and FICA documentation
2. 2Verify identity documents through automated analysis and review
3. 3Verify residential and business information
4. 4Identify beneficial ownership for corporate clients
5. 5Record verification outcomes in a compliance-ready report
6. 6Flag information that could not be verified

Who May Need This Service

• Banks and South African accountable institutions
• Estate agencies and property professionals
• Legal and conveyancing practices
• Insurers and financial advisors
• Businesses onboarding South African corporate clients

Documents & Information That May Be Required

Requirements may vary depending on the institution, jurisdiction, customer risk profile and nature of the transaction.

• South African identity document or valid passport
• Proof of residential address
• Company registration documents (CIPC records where available)
• Shareholding and beneficial ownership records
• Trust deeds and mandates where applicable
• Tax clearance or supporting documentation where required