Fraudcheck empowers businesses to achieve FICA compliance through our comprehensive risk and business intelligence verification solutions

  • Eliminate tedious manual work with our automated solutions
  • Mitigate the risk of hefty penalities for non-compliance
  • Streamline and optimise your entire FICA compliance process

The process of vetting, verifying, onboarding, and due diligence, can be labour-intensive. We can help you alleviate the compliance headache by facilitating the automation and optimisation of relevant verifications in line with your RMCP (Risk Management Compliance Program), while in consultation with your compliance officers.

Looking for FICA compliance?

FICA stands for the Financial Intelligence Centre Act, a South African law enacted in 2001 to fight financial crimes. It helps to combat financial crimes like money laundering, terrorist financing, tax evasion, fraud, and identity theft. This framework was established for all accountable institutions to identify and verify their clients’ identities (Know Your Client – KYC).

Accountable institutions such as online gaming, FSPs, real estate, lawyers, accounting and insurance firms, and many others are regulated to be FICA compliant.

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Remove the risk of onboarding customers involved in illegal activities.

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Mitigate the risk of fraud and non-compliance.

Directive 8 is mandatory for all Accountable Institutions (AIs). In March 2023, the South African Department of Finance published Directive 8 on the compulsory screening of employees for all AIs.

We offer the checks that are needed to comply:

  • Criminal record checks
  • ID checks
  • ITC/credit checks
  • Bank account checks
  • Qualification checks
  • Employment reference checks
  • AML/Watchlist and risk sanction screenings

We are able to customise our modular solutions according to your needs.

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Consequences of non-compliance

Failure to comply with the FIC Act can lead to any one or more of the following sanctions: 

  • A caution not to repeat the conduct which led to the non-compliance
  • A reprimand
  • A directive to take remedial action or to make specific arrangements
  • The restriction or suspension of certain specified business activities
  • A financial penalty not exceeding R10 million for a natural person and R50 million for a legal person.
  • AML / Watchlist listing

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Don't risk the integrity and stability of your business

Our team is ready to guide you through seamless FICA compliance, allowing you to focus on driving your core business forward with confidence and peace of mind.

Streamline your FICA compliance process

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Our team is always on hand

Fill in our form and we’ll be in touch.

For a business

For a Business

Are you a business looking for FICA solutions?

For an individual

For an individual

Are you an individual looking to vet other individuals or yourself?

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Take Quiz

Put your verification intelligence to the test

Which of the following is NOT a common compliance standard or regulation(Required)
What does the term “risk” refer to in the context of risk and compliance?(Required)
What percentage of identity theft cases in South Africa are believed to go unreported or undetected?(Required)
How can organizations detect candidates with fake documents and criminal records?(Required)
Which of the following is NOT typically included in a company’s due diligence when vetting potential suppliers or business partners?(Required)
What is the primary objective of a “sanctions screening” process when vetting companies or individuals in a business context?(Required)
What does the acronym AML stand for in the context of financial compliance?(Required)

SLA

SLA (Turnaround Time)

Our dedicated team of qualified experts meticulously verifies qualifications to provide accurate and reliable results, ensuring our clients receive the highest service and trust.

Verifications Turnaround time (in Business days)
ID Verification Near Real-Time
Financial Risk (ITC) check Near Real-Time
Criminal Check (Priority) 4 – 8 (Hours)
Criminal Check (Premium) 8 – 12 (Hours)
Criminal Check (Standard) 24 – 48 (Hours)
SAPS Report 2 – 6 (Weeks)

Qualifications Turnaround time (in Business days)
PSIRA 5
QCTO 2
UNISA 4
WITS 8
UJ 10
UP 2
TUT 2
MerSeta 3
Transnet 4
Mangosethu 3
UKZN 2
DUT 3
Mancosa 4
NWU 5
Matric Post-1992 (Inclusive) 3
Matric Pre-1992 No turnaround time
Department of Education No turnaround time
Download brochure

Download our brochure

Please submit your details below to download the brochure.

Checkpoints

Verification Checkpoints

Click on a province

Registered Credit Bureau | NCRCB65

Registered Credit Bureau | NCRCB65

Contact Details

Linkedin
Take Quiz

Put your verification intelligence to the test

Which of the following is NOT a common compliance standard or regulation(Required)
What does the term “risk” refer to in the context of risk and compliance?(Required)
What percentage of identity theft cases in South Africa are believed to go unreported or undetected?(Required)
How can organizations detect candidates with fake documents and criminal records?(Required)
Which of the following is NOT typically included in a company’s due diligence when vetting potential suppliers or business partners?(Required)
What is the primary objective of a “sanctions screening” process when vetting companies or individuals in a business context?(Required)
What does the acronym AML stand for in the context of financial compliance?(Required)

Company

Checkpoints

Verification Checkpoints

Click on a province

SLA

SLA (Turnaround Time)

Our dedicated team of qualified experts meticulously verifies qualifications to provide accurate and reliable results, ensuring our clients receive the highest service and trust.

Verifications Turnaround time (in Business days)
ID Verification Near Real-Time
Financial Risk (ITC) check Near Real-Time
Criminal Check (Priority) 4 – 8 (Hours)
Criminal Check (Premium) 8 – 12 (Hours)
Criminal Check (Standard) 24 – 48 (Hours)
SAPS Report 2 – 6 (Weeks)

Qualifications Turnaround time (in Business days)
PSIRA 5
QCTO 2
UNISA 4
WITS 8
UJ 10
UP 2
TUT 2
MerSeta 3
Transnet 4
Mangosethu 3
UKZN 2
DUT 3
Mancosa 4
NWU 5
Matric Post-1992 (Inclusive) 3
Matric Pre-1992 No turnaround time
Department of Education No turnaround time
Download brochure

Download our brochure

Please submit your details below to download the brochure.

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