What is FICA?
Financial Intelligence Centre Act 38 of 2001
South Africa introduced FICA in 2001 to help fight financial crimes such as money laundering, the financing of terrorist activities, and to protect banking customers from such crimes. According to FICA, banks must ensure that the customer information that the bank keeps is correct and up to date as it is important for banks to know their customers.
What documents are required?
What documents must I provide?
- The primary document for us to confirm your identity is your green bar-coded national identity document or identity card (smart card).
- For us to verify your residential address, you have to provide us with an approved document containing your name and physical address (PO Box numbers are not acceptable), or stand number and suburb.