LATEST UPDATE

FICA Section Commencement and Amendment of Money Laundering and Terrorist Financing Control Regulations

Sections 30, 54, 55, and 70 of the Financial Intelligence Centre Act (Act No. 38 of 2001) (FICA) came into operation on 1 July 2026, as determined by the President of South Africa, in terms of Section 82 of the FICA. These sections address reporting requirements on conveying an amount of cash or a bearer negotiable instrument in and out of South Africa.

The notice of commencement is available here.

The Minister of Finance has amended the regulations under FICA, with the amendments also taking effect on 1 July 2026. The prescribed amount for reporting the conveyance of cash or bearer negotiable instruments into or out of South Africa is R100 000.

The amendments to the regulations are available here.