South Africa’s AML/CFT rules leave little room for guesswork. Under FICA and Guidance Note 7A, accountable institutions need to take a risk-based approach to customer due diligence, identity verification, beneficial ownership checks, transaction monitoring, suspicious activity reporting, and ongoing screening. For businesses handling crypto asset transfers, Directive 9 adds Travel Rule requirements into the mix.
This checklist brings those requirements together in one practical resource. It helps compliance and legal teams quickly understand what applies, where requirements differ by sector, and which Sumsub solutions can support implementation across financial institutions, digital assets, iGaming, and SEC registrants.
What's inside:
- Uncover what South Africa’s AML/CFT rules really mean for your business, ranging from CDD and KYB to ongoing monitoring and reporting
- Gain clarity on the specific checks applying to individuals, companies, and more so you gain confidence in your onboarding process
- Easily compare accepted identity verification approaches, and identify where enhanced due diligence is needed, so you don’t get caught out
- Overcome any Travel Rule ambiguity with clear requirements for virtual asset transfers, including VASP checks, wallet attribution, unhosted wallet verification, and crypto monitoring
- Strengthen your screening across sanctions, PEPs, watchlists, adverse media, and ongoing monitoring
- Map each requirement to relevant Sumsub solutions, so your team can move from regulatory interpretation to implementation faster
