MENA & Africa · South Africa FIC
Financial Intelligence Centre Act 38 of 2001 (FICA), as amended by General Laws Amendment Act 22 of 2022
Primary LegislationIn Force
- Issuing authority
- Administrative sanctions up to R10 million; criminal penalties available
- Effective date
- In force 2001; major 2022 amendments effective 4 January 2023; further amendment bill in progress
- Scope
- Administrative sanctions up to R10 million; criminal penalties available
Key requirements
South Africa's main AML law. Following the 2022 General Laws Amendment Act (effective 2023), accountable institutions face enhanced beneficial ownership requirements under Section 21B, they must establish the ownership and control structure of legal persons, trusts and partnerships. South Africa was on the FATF grey list from February 2023 but removed in October 2025 after demonstrating reforms. A further AML/CTF Amendment Bill is circulating to further tighten reporting, governance and BO disclosure rules.