FORENSIC RISK AUDIT
YOUR COMPLETE COMPLIANCE PARTNER
We think like you
The FRA product was designed with the input from leading legal practitioners, ensuring a product tailor made for the legal fraternity
We care about Compliance
Our proprietary system is fully compliant with all legislation, ensuring seamless compliance.
We stand for Simplicity
We designed our system with simplicity in mind, ensuring ease of use for all parties using our unique system
And we do it on time
Quick turnaround times mean no delays to any transactions, ensuring happy clients for your legal practice.
FIC BACKGROUND
Previously it was easy for attorneys to comply. This was largely due to the fact that the provincial law societies and other relevant stakeholders, traditionally issued what was termed a ‘FICA Manual’. This manual discussed each relevant provision of FICA, which legal practitioners had to comply with. This was largely a tick-box exercise, which arguably and perfectly suited the mind set of traditional legal practitioners. The Act, places an obligation on the banks, attorney’s and listed institutions to FICA (KYC, by keeping proper records of their clients, requesting particulars and keeping a proper record of where the funds are coming from and where they are going). The failure to comply can lead to a prison sentence and or a fine depending on the offence.
What we do
A Simple Due Diligence (SDD) conducted in house by an accountable institution is not enough
to ensure compliance with the FIC Act. In order to be fully compliant an external Advanced Due
Diligence is required in order to verify your SDD.
With(out) prejudice
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Types of courts in South Africa
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