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The failure to register with the FIC or the failure to update registration information when it has changed are offences and may result in a fine not exceeding R10 million.When?Persons who commence new businesses which are regarded as accountable or reporting institutions are required to register with the FIC within 90 days from the date the business commenced.How?All registrations must be completed and submitted to the FIC electronically within the prescribed period using the online registration system called goAML. Registration with the FIC is free. In exceptional circumstances an accountable or reporting institution may make use of a manual paper-based mechanism to register.
For further reading on registration please refer to Guidance Note 7 and public compliance communication PCC 5C. Please refer to the User Guide for registering as an accountable institution. <<<go back
Video on how to register: