The Targeted Financial Sanctions List
The Financial Intelligence Centre (FIC) publishes and maintains an updated sanctions list which will be available on its website and which will reflect available identity particulars of persons and entities contained in notices published by the Director.
The TFS List includes all persons and entities to which the FIC Act S26A currently applies.
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Screening
Accountable institutions must be able to determine whether they have a sanctioned person or entity as a client or whether a prospective client is a sanctioned person or entity in order to determine their exposure to TFS-related obligations. This implies that accountable institutions which are likely to come into contact with sanctioned persons or entities are able to screen clients and prospective clients against the relevant sanctions lists. This should be done during the client-take-on process as well as subsequently as and when the UNSC adopts new TFS measures or expand existing ones.
Accountable institutions must therefore determine the likelihood that their client base and intended target market may include sanctioned persons or entities. This should assist the accountable institution in determining the amount of effort and resources it requires in order to determine whether they have sanctioned persons or entities as a clients or whether prospective clients are sanctioned persons or entities. Accountable institutions that have business relationships with foreign persons and entities are more vulnerable to dealing with sanctioned persons and entities.
Accountable institutions should be mindful of the fact that failure to comply with TFS obligations is a criminal offence under section 49A of the FIC Act. The fact that an accountable institution had relied on a commercially available screening capability or that it had considered the risk of being exposed to TFS-related obligations to be low, would not be a e against such a criminal charge.
Online Search Tool
The FIC software is designed to assist asset holders in finding possible matches between their clients' names and names on the TFS List.
The FIC software does not indicate whether there are any relationships between the name provided and any name on the TFS List. It is only designed to provide an indication of how similar the name provided is to any name on the TFS List to mitigate the difficulties faced by subtle name variations and aliases.
Before using this software, users should note:
the important information in the manual;
that this is only one method and will miss some variations;
that it requires input data in a specific format;
that the internal lists are only valid until superseded; and
that users must agree to the conditions of use.
As it may not always be clear whether there is a match between the name provided and any name on the TFS List, asset holders may request the assistance of the FIC TFS Support/PQP to determine whether or not an asset is owned or controlled by a person or entity on the TFS List. To facilitate this process, a PQP Request can be launched here. The PQP Request form should be sent to the FIC at the following address:
FIC PQP TFS:
Notifications of changes to the List
Receiving Alerts and Notifications to Updates and Changes to the TFS List
The Financial Intelligence Centre (FIC) FIC publishes and maintain a TFS List of all persons and entities designated for the purposes of sanctions regimes implemented under Sections 26A, 26B and 26C of the Financial Intelligence Centre Act, Act No 38 of 2001 (FIC Act). People interested in receiving Alerts and Notifications of updates and changes to the TFS List, may subscribe.
The FIC has made this list, known as the Targeted Financial Sanctions List, available on the FIC website at www.fic.gov.za. This list will change from time to time, and it is your obligation to ensure that you make use of the most recent list when reviewing your clients.
You may subscribe to this list, whereby the FIC will send you an alert when this list is updated. To subscribe, please click the following link, and fill in basic contact information.
Please refer to Guidance Note 7 available on for a detailed discussion on TFS.
If you are already subscribed to the mailing list you can unsubscribe here.
Your email address will only be used for the purpose of receiving updates Alerts and Notifications of updates and changes to the TFS List. We will not use your email address for any other purpose or share it without your consent. For more information see our privacy statement.
Reporting Obligations to the FIC
Adherence to the Targeted Financial Sanctions (TFS) obligations, are imposed on all South African citizens in terms of Sections 26A, 26B and 26C of the Financial Intelligence Centre Act, Act No. 38 of 2001 (FIC Act).
In terms of the TFS obligations, no person may directly or indirectly, in whole or in part, and by any means or method enter into any transaction, facilitate a transaction or assist in a transaction with an entity identified on a specified resolution, as determined by the Security Council of the United Nations.
Accountable institutions must report to the Centre, the property in the accountable institution's possession or under its control which is owned or controlled by or on behalf of a person or an entity identified in the sanctions list.
Section 28A of the FIC Act requires an accountable institution, listed in Schedule 1 to the FIC Act, to file a report with the Centre if the accountable institution knows that it possesses or controls property linked to terrorism or to entities that are sanctioned pursuant to the provisions of the Protection of Constitutional Democracy against Terrorist and Related Activities Act, 2004 (Act 33 of 2004) (the POCDATARA Act).
The knowledge about the origin and ownership of the property in question is based on fact and should be acquired with reference to an objective set of circumstances or facts (as opposed to a suspicion that is formed subjectively).
Section 28A(1)(a)
An accountable institution that files a report in terms of section 28A(1)(a) of the FIC Act knows that it is in possession of, or has under its control property linked to a specified offence as defined in the POCDATARA Act.
Section 28A(1)(b)8
Section 25 of the POCDATARA Act states that the President must give notice, by Proclamation in the Gazette, in respect of any entity that has been designated by the United Nations Security Council in order to combat or prevent terrorist and related activities.
The abovementioned conditions are met in respect of the sanction lists issued pursuant to the United Nations Security Council Resolution (UNSCR) 1267 (1999) and its successor resolutions.
The individuals and entities whose names appear on these listings are those whom the UNSC has identified as being associated with the Taliban, Al Qaida and the so-called Islamic State of Iraq and the Levant. These UNSC Resolutions are the only sanctions lists related to terrorist activities which are legally recognised within the Republic of South Africa and can be accessed on the United Nations website.
Section 4 of the POCDATARA Act expressly prohibits any person from dealing with property that is associated with acts of terrorism, with persons or organisations that carry out acts of terrorism or with entities that are sanctioned pursuant to the POCDATARA Act. Consequently, any dealings with property that is identified in a report under section 28A of the FIC Act will constitute a contravention of section 4 of the POCDATARA Act. In effect, once an institution files a report in terms of section 28A of the FIC Act, this will lead to a requirement to freeze the property and cease to conduct business with the entity in question.
Information to be reported concerning property associated with terrorist and related activities is found in Regulation 22A of the MLTFC Regulations.
Distinction between Terrorist Financing and Related Activities Reporting Obligations In Terms Of Section 29 and Terrorist Property Reporting In Terms Of Section 28a Of The Fic Act
The obligation to report suspicious and unusual transactions and activities in terms of S29 of the FIC Act applies to a wide category of persons and businesses. Section 29 of the FIC Act applies to any person who:
It is important to note that the obligation to report in terms of section 29 of the FIC Act is not only applicable to accountable institutions as it refers to "any person". A report made in terms of section 29 of the FIC Act, if made in the prescribed manner, is a valid defence to charges brought in terms of section 4 of the POCDATARA Act, which deals with offences associated or connected with the financing of specified offences. This e is contained in section 17(6)(b) of the POCDATARA Act.
This means that all businesses, including accountable institutions, and any person connected to any business must in terms of section 29 of the FIC Act, report suspicious or unusual activities or transactions or series of transactions related to the financing of terrorist and related activities, to the Centre.
This may be done by submitting a Terrorist Financing Transaction Report (TFTR) or a Terrorist Financing Activity Report (TFAR).
TFAR refers to a terrorist financing activity report submitted in terms of section 29(1) or 29(2) of the FIC Act in respect of the financing of terrorism and related activities where the report relates to an activity which does not involve a transaction between two or more parties or is in respect of a transaction or a series of transactions about which enquiries are made, but which has not been concluded, respectively.
TFTR refers to a terrorist financing transaction report which must be submitted in terms of section 29(1) of the FIC Act in relation to the financing of terrorism and related activities where the report relates to a transaction or series of transactions between two or more parties.
For more information on the reporting obligations refer to guidance issued by the Centre regarding reporting of suspicious and unusual transactions and activities to the Centre.
Guidance Note 6 on Terrorist Financing and Terrorist Property Reporting Obligations In Terms Of Section 28A of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)
Please see the following legislation:
Accountable institutions can find information about proclamations under the POCDATARA Act on the following website: https://www.saps.gov.za/resource_centre/acts/downloads/terrorism/37758_proc39.pdf
Methods for submitting (TPR, TFAR and TFTR) Reports to the Centre
Regulation 22 of the MLTFC Regulations requires that a report in terms of sections 28A and 29 of the FIC Act be filed with the Centre electronically by making use of the internet-based reporting portal provided for this purpose at http://www.fic.gov.za , and then selecting the Registration and Reporting portal link.
Time period for submitting Reports
In terms of regulation 24(1) of the MLTFC Regulations, a report under section 28A of the FIC Act must be sent to the Centre as soon as possible but no later than five (5) days after a natural person who is an accountable institution or is in charge of, manages or is employed by an accountable institution, had established that the accountable institution has property associated with terrorist and related activities in its possession or under its control, unless the Centre has approved the report being sent after the expiry of this period.
In terms of regulation 24(3) of the MLTFC Regulations a report under section 29 of the FIC Act must be sent to the Centre as soon as possible but not later than fifteen (15) days after a natural person or any of his or her employees, or any of the employees or officers of a legal person or other entity, has become aware of a fact concerning a transaction on the basis of which knowledge or a suspicion concerning the transaction must be reported, unless the Centre has approved the report being sent after the expiry of this period.
Reporters must note that this reporting period is effective from the institution becoming aware of such report, and it may not add additional timeframes for its internal sanction/watch list screening tools and processes, internal transactional monitoring alert system processes, and/or internal investigation and review processes to the prescribed reporting period.
User guides on electronic reporting of section 28A and section 29 of the FIC Act
The Financial Intelligence Centre has issued user guides for the electronic reporting of TPR, TFTR and TFAR. These user guides do not form part of this guidance and are mere practical aids to assist accountable institutions and other businesses in completing the electronic reporting form and are attached to this guidance for ease of reference.
Offenses for Failure to Report
Reports submitted to the Centre in terms of sections 26B, 28A and 29 of the FIC Act respectively, must be submitted within the prescribed time and must include the prescribed particulars contained in the MLTFC Regulations.
The failure to file a report in terms of sections 26B, 28A and 29 of the FIC Act constitutes an offence in terms of section 51A of the FIC Act.
It should further be noted that an accountable institution that does not have the abovementioned measures in place could be found guilty of an offence associated or connected with the financing of specified offences in terms of section 4 of the POCDATARA Act.
Failure to report in terms of sections 28A and 29 of the FIC Act should be brought to the Centre's attention without undue delay as per to formal process outlined in Directive 3 which is available on www.fic.gov.za.