The Financial Intelligence Centre Act (FICA): Know-your-client checklists
FICA was promulgated in line with legislation from other countries and is designed to reveal the movement of money derived from unlawful activities, thereby curbing money laundering and other criminal activities such as terrorist financing. All accountable institutions registered with the FIC are under an obligation to comply with the ‘Know Your Client’ requirements, as set out in the Act. Momentum Collective Investments (RF) (Pty) Ltd as an accountable institution would then be required to identify and verify all prospective, new and existing clients in terms of such requirements. FICA provides for the different types of clients and the information requested as well as the acceptable verification documentation has been categorised as such. Below is a list of the forms that need to be completed as well as a hyperlink to each one:
Individuals
| Description | Forms |
| Personal identification and verification of natural persons | FICA001E |
| Declaration by financial adviser | FICA008E |
| Identification and verification of non-SA residents | FICA009E |
| Confirmation of residential address by co-habitant | FICA011E |
| Confirmation of residential address by financial adviser | FICA012E
|
Legal entities
| Description | Forms |
| Identification and verification of companies | FICA002E |
| Identification and verification of CCs | FICA003E |
| Identification and verification of other legal persons | FICA004E |
| Identification and verification of trusts | FICA005E |
| Identification and verification of partnerships | FICA006E |
| Identification and verification of foreign companies | FICA007E |
| Declaration by financial adviser | FICA008E |
| Identification and verification of non-SA residents | FICA009E |
| Identification and verification of listed companies | FICA010E |
| Confirmation of business address by financial adviser | FICA012E |
Authorised representatives and controlling persons of legal entities
| Personal identification and verification of natural persons | FICA001E |
| Identification and verification of non-SA residents | FICA009E |
| Confirmation of residential address by co-habitant | FICA011E |
| Confirmation of residential address by financial adviser | FICA012E |