Why FICA Applies to Businesses Selling Items Over R100k

If your business buys or sells physical goods for R100,000 or more in a single transaction, you may be deemed a High-Value Goods Dealer under FICA, and that classification comes with due diligence and reporting obligations you cannot afford to overlook. Criminals are using high-value goods to convert illicit funds into legitimate-looking assets, which is why the FIC expects proper controls to be in place.

Attendees who tuned into the webinar for longer than 45 minutes received a certificate of attendance.

Topics discussed:

The classification of businesses dealing in goods over 100k
How your industry is being used to launder money
Why this industry is now on the regulators radar
The red flags that separate compliant businesses from exposed ones
What the FIC expects from businesses like yours

Webinar Resources

Explore the links to access additional resources to deepen your FICA obligations knowledge as a High-Value Goods Dealer.

HVGD Page

Are You A High-Value Goods Dealers

Downloadable Asset

FICA Handbook for HVGDs

Downloadable Asset

FICA FAQ Guide for HVGDs

Training

FICA Awareness Training

Book a Demo

If you have any questions or would like to get in touch with our team, please complete the form below.

Meet Our Expert Speakers

Adrienne Anthony

Business Development Executive,
nCino KYC Africa

Adrienne Anthony is a Business Development Executive at nCino KYC Africa, where she helps Accountable Institutions simplify FICA compliance, streamline customer onboarding and strengthen financial crime risk management through technology-enabled solutions. With a passion for building strong client partnerships and understanding business challenges, Adrienne works with organisations across multiple industries to identify opportunities for greater efficiency, reduced compliance burden and improved customer experiences.

Laché Sias

Principal Financial Crime Compliance Officer
nCino KYC Africa

Laché is part of the Compliance team at nCino KYC. She holds a Honours Degree in Political Science and has added the ACAMS Certified Anti-Money Laundering Specialist accreditation to her name. She has worked in compliance roles within the financial sector which has given her both experience and knowledge on the Know Your Customer process and Enhanced Due Diligence. Her practical experience includes onboarding intricate and complex entity types, investigation of high risk clients, sanctions and Politically Exposed Persons. Laché has been an integral member of the nCino KYC Africa in house watchlist team that curated the DPEP database and has an advanced understanding of Schedules 3A and 3C of the act.