Page 24 - Steps to Success

RULE 22: FICA Requirements

Send offer ASAP to office with clear copies of the Overview of the Financial Intelligence Centre Act, 38 of 2001 South Africa has
following: (FICA is compulsory) For Purchaser implemented 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, 38 of 2001,
•ID abbreviated to “FICA”. To ensure that you have correct details for all of your
•Proof of residence: Council Rates & Taxes bill. (Telkom, customers by establishing and verifying certain customer details. These have
Eskom, Levy, SABC)
come to be known as Know-Your-Customer, abbreviated to "KYC". KYC is
• Marriage Certificate
•Latest Salary slip considered to be the cornerstone in money laundering control.
•3 months bank statements
•Tax Number

For Seller:

•ID Copy

•Latest Town Council Utility Bill

•(Latest Levy statement) if Sectional Title

•Marriage Certificate

•Tax Number