FICA Control Regulations Amended to Introduce Cross-Border Tracing Mechanisms

Posted 12 June 2026 Written by Acts Online
Category Financial Intelligence Centre Act

Brought to you by SA Legal Academy: National Treasury has gazetted final amendments to the Money Laundering and Terrorist Financing Control Regulations under the Financial Intelligence Centre Act, No. 38 of 2001, introducing new tracing mechanisms for cross-border cash movements.

In terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the newly gazetted amendments update the control regulations that have been in force since December 2002. These final amendments, which are immediately effective, follow a draft consultation process initiated in April 2024.

The regulatory amendments introduce specific “tracing mechanisms” designed to address and mitigate potential money laundering and terrorist financing vulnerabilities. These vulnerabilities are primarily associated with the physical cross-border movement of cash and bearer negotiable instruments (BNIs).

Accountable institutions and compliance officers should distinguish these FICA regulatory updates from the separate draft regulations released in April 2026 under the Currency and Exchanges Act, No. 9 of 1933, which remain subject to their own public comment timeline.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; professional compliance officers must update their advisory knowledge regarding cross-border reporting protocols.
  • For your business: Accountable institutions must review and align their internal Risk Management and Compliance Programmes (RMCPs) to integrate the new tracing and reporting mechanisms for physical cash and bearer negotiable instruments.
  • For your clients: Clients undertaking cross-border transport of cash or bearer negotiable instruments must strictly comply with the updated declaration and tracing requirements to mitigate the risk of asset detention or regulatory penalties.

Originally published at https://legalacademy.co.za/news/read/money-laundering-terrorist-financing-control-regulations-amended

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