National Qualifications Framework Act, 2008
R 385
Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)Chapter 4 : Compliance and Enforcement56. Failure to report electronic transfers |
| (1) | An accountable institution that fails to report to the Centre the prescribed information in respect of an electronic transfer of money in accordance with section 31, is guilty of an offence. |
| (2) | An accountable institution that fails to report to the Centre the prescribed information in respect of an electronic transfer of money in accordance with section 31, is non-compliant and is subject to an administrative sanction. |
[Section 56 substituted by section 43 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017) and takes effect on 1 February 2023 as per Proclamation 111, GG47883 dated 20 January 2023
