FICA

FICA The legislation aims to put money laundering on the neck. Money laundering is defined as any attempt to hide money or to reveal its true origin. This includes money and any form of benefit that may be obtained from illegal activities. This law requires that an organization such as Gariep Planners handle all business in accordance with the FICA law. Serious fines are imposed for non-compliance with the law. The law requires each customer to be identified and documents verified. All documents must be stored in safe custody. The Fica Act places all our financial planners under an obligation to report any suspicious transactions at the Financial Intelligence Center.