As a result of the changes to the Financial Intelligence Centre Act 38 (Amendment Act 11 of 2008) with effect from 1 March 2011 all South African practicing attorneys are now included in the compliance requirements of the act as "Accountable Institutions".
To aid our clients in implementing FICA compliance in their practices LegalSuite has designed a FICA Compliance Add-On Module to ensure that the user is warned if they are working on a Matter that has Parties linked to it that are not FICA compliant:
The user can from this warning screen effortlessly send a request to the Party to produce the outstanding FICA documentation. This can be done either via SMS, E-mail or by generating a letter. This communication will automatically list the outstanding FICA documentation:
The program will insert a Reminder for the user to check in a couple of days' time whether the outstanding documentation was received.
The FICA compliance officer for your firm can at a glance of the Desktop see which matters are not FICA compliant:
We believe that this module would greatly assist our clients with the onerous tasks of ensuring that all the Parties that they are doing business with are FICA compliant.