Marcel Klaassen

In a bid to combat the increasing spate of fraud, South African Banks are legally required to establish the source of funds coming into their customer's bank accounts. As a result, banks regularly review their compliance with the Financial Intelligence Centre Act (FICA) and Know-Your-Customer (KYC) regulations to ensure that customer accounts are supported by updated, legally required information and documentation. Marcel Klaassen, Head of Sales at FNB Business says financial … [Read more...] about Common FICA compliance mistakes to avoid