FICA Compliance Obligations: Directive 6 & 7: Risk & Compliance Returns

Описание: In this video, we explain the key requirements of FIC Directives 6 and 7, which mandate certain Accountable Institutions to submit a Risk and Compliance Return to the Financial Intelligence Centre (FIC). This return is a critical part of your businesses compliance with the FIC Act, addressing money laundering, terrorist financing, and proliferation financing risks.

We walk you through the types of questions asked in the return, including details about your customers, transactions, and adherence to FICA obligations. It's important to note that the submission of this return is compulsory for all specified institutions, and failure to submit could result in administrative sanctions.

If the deadline has passed and you haven't submitted yet, don't delay—visit the FIC’s website today to avoid non-compliance.

00:00 Intro
00:32 What is being assessed with the Risk & Compliance Returns (RCRs)
00:47 What questions are asked in the RCR?
01:03 Is the completion of the RCR compulsory?
01:21 Has the deadline for submitting the RCR passed?

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