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Nicely, it’s not nice; the implications of non-compliance are fairly heavy, leaving your corporation susceptible to doable administrative sanctions, together with severe monetary penalties.
No one needs that!
However when you did miss the deadline in December, attempting to cover is just not a sustainable long-term resolution. It’s higher to go cap in hand and register, as quickly as doable. You don’t need them to catch you later and resolve to make an instance of you.
“You don’t need them to catch you later and resolve to make an instance of you”
The excellent news is that the FIC’s major perform is amassing, analysing, and disseminating monetary intelligence to related authorities, aiding within the identification and prevention of illicit monetary actions. If you’re lower than nonsense, this implies you have to be fantastic, so long as you attempt to adjust to their necessities.
The FIC works in affiliation with varied stakeholders like banks, monetary establishments, and legislation enforcement companies to make sure a coordinated effort in safeguarding the nation from the detrimental results of prison actions. SA already has a poor fame on this regard, with gray itemizing and a historical past of high-ranking politicians on the take.
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