FICA Masterclass - Why Criminals Are Targeting High-Value Dealers & How to Stop Them
Between R16 billion and R64 billion is laundered through South African businesses annually, with criminals increasingly exploiting High-Value Goods Dealers (HVGDs) through sophisticated schemes involving machinery, vehicles, and equipment transactions. This webinar reveals how to identify red flags, understand your FICA obligations, implement effective customer due diligence, and protect your business from severe penalties whilst maintaining your sales process.
Trusted by hundreds of law firms, financial institutions, high-value goods dealers and other discerning businesses
- 25 February 2026
- 10:00 - 11:00 SAST
- This webinar was at no cost.
About the webinar:
If you sell equipment, machinery, vehicles, or any physical goods valued at R100,000 or more, you’re operating in a sector that criminals are actively exploiting to launder money. The numbers are staggering: South African businesses are estimated to launder between R16-billion and R64-billion annually, and high-value goods dealers have become prime targets.
Since December 2022, selling a single item for R100,000 or more classifies your business as an Accountable Institution under FICA. But compliance isn’t just about ticking boxes -it’s about protecting your business from becoming an unwitting accomplice to financial crime.
Join our compliance experts for a masterclass where you’ll discover how criminals are exploiting high-value goods dealers and what you can do to stop them. We’ll examine real-world money laundering schemes, identify the transaction red flags you need to watch for, and equip you with practical strategies to build a compliance framework that truly protects your business.
Topics Covered:
- Who qualifies as a High-Value Goods Dealer under FICA
- Real-world money laundering schemes targeting HVGDs
- Red flags that should trigger immediate review
- When and how to report suspicious transactions to the FIC
- Questions we hear repeatedly from HVGDs and how to address them
If you any questions regarding the webinar, please contact us on kycafrica.communication@ncino.com
Webinar Resources
Explore the links to access additional resources to deepen your understanding of FICA.
If you have any questions or would like to get in touch with our team, please complete the form below.
Article
The Hidden Threat: How Financial Crime Continues to Blindside South African Businesses
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Meet Our Expert Speakers
Mahluleli Mathiya
Principal Financial Crime Compliance Officer,
nCino KYC Africa
Mahluleli is a highly experienced financial crime compliance professional with over a decade of expertise in AML, CTF, forensic investigations, and regulatory compliance. He currently serves as Principal Financial Crime Compliance Officer at nCino KYC Africa, where he advises and supports accountable institutions on meeting the requirements of South Africa’s FIC Act.
His career includes key roles at Ernst & Young, nCino KYC, and Investec Bank, where he led AML/CTF initiatives, risk-based compliance strategies, and forensic investigations.
Murray Collier
Business Development Manager,
nCino KYC Africa
Murray is an experienced business development manager with a strong Financial Compliance, Regulatory Operations, and Banking Operations background. With 6 years of experience in the banking field, he played an integral part in implementing the FIC Amendment Act at one of the major banks in South Africa.
In his current role at nCino KYC, Murray assists Accountable Institutions in identifying the gap between FIC regulations and their existing practices. Through his expertise, he advises how customers can bridge this gap by implementing technology to streamline the process and ensure FICA compliance.
