South Africa has implemented a law that is designed to combat money laundering, which is the abuse of financial systems in order to hide and/or disguise the proceeds of crime. This law is known as the Financial Intelligence centre Act 28 of 2001, also referred to as FICA.

In terms of FICA, all accountable institutions (such as banks) have specific duties to help prevent money laundering. One of such duties is to perform a "Know-Your-Customer" (KYC) check on all customers by certain deadline dates. The Act defines information and verification requirements, based on the client's entity (i.e. Company, CC, Individual etc), and what type of transaction is being entered into with relevant requirements to be met.

F!CAssure is a Legal Entity Management and Electronic Document Retention Software package - your FICA Audit Compliance Solution. F!CAssure allows you to quickly and easily capture FICA required information from you customers and store it in a secure, standardized database. F!CAssure performs all the FICA functions required by the FICA Act and allows for reporting to be performed on all your client information.

Who can use it?
Anyone who is legally required by Financial Intelligence centre Act 28 of 2001 to gather information about their clients will find a benefit from using F!CAssure and its advanced, user-friendly features.

Some benefits F!CAssure can offer you:

• Easy Capturing - Save lots of time as you capture only the absolutely necessary customer information prompted for you by the software.
• Security - Stored securely on a SQL database making it easy to back-up, you shouldn't have to worry about losing important client information. Roles based security adds an additional layer of protection to your data i.e. a FICA compliant entity cannot be changed by anyone other than an administrator. This means that only a person belonging to the FICA officer role can make entities FICA compliant, avoiding unnecessary slip-ups.
• Electronically store all FICA documentation - Original documents can be scanned and uploaded, saving you space and stationery costs.
• Effortlessly link legal entities - no more duplicate work or documentation.
• Easily track the FICA compliance status of your clients - reducing your audit risk.
• Reports to help track your compliance performance.

Save Time, Money and the Environment with F!CAssure
Manage your FICA responsibilities effectively