Financial Inelegance Centre Act (FICA) , 2001
This Act aims to combat money laundering.
Money laundering is defined as any act to hide or disguise the true source of the proceeds of crime, money and/or any benefit gained form unlawful activities which includes contravening the Exchange Control Act, or any other law or regulation.
At FFG we must conduct our business in line with FICA or suffer severe penalties for non compliance.
We must know and verify all our clients, as well as maintaining records of all dealings with clients.
Our financial advisers are obligated under FICA to report any suspicious or unusual transaction to the Financial Intelligence Centre.