FIC Issues Notice on June 2026 FATF Plenary Outcomes

Posted 15 July 2026 Written by Acts Online
Category Compliance

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has released an outcomes notice detailing the key decisions, strategic initiatives, and jurisdictional updates arising from the Financial Action Task Force (FATF) plenary meetings held in June 2026.

In terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the FIC acts as the national supervisor overseeing compliance with anti-money laundering, countering the financing of terrorism, and combating proliferation financing (AML/CFT/CPF) regulations. The June 2026 FATF plenary sessions addressed critical updates to the global standards, focusing on jurisdictions under increased monitoring and those subject to a call for action.

South Africa’s participation in the June 2026 meetings remains central to its strategic objective of addressing the remaining deficiencies identified in its mutual evaluation. The outcomes notice highlights the FATF’s updated assessments of high-risk and monitored jurisdictions, which directly impact the risk-based compliance measures that South African accountable institutions must apply under FICA.

The key focus areas from the June 2026 plenary include:

  • Jurisdictions under increased monitoring: Ongoing review of countries on the “grey list” and their progress in implementing action plans to address strategic deficiencies.
  • High-risk jurisdictions: Active countermeasures and enhanced due diligence (EDD) requirements for jurisdictions on the “black list.”
  • Strategic initiatives: Strengthening global standards regarding beneficial ownership transparency and the regulation of virtual asset service providers (VASPs).

Click here to download the FIC Outcomes Notice June 2026.

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

  • For yourself: No direct individual obligations; impact is channelled through your professional duty to maintain up-to-date knowledge of FATF-listed jurisdictions to perform accurate risk assessments.
  • For your business: Accountable institutions must update their internal Risk Management and Compliance Programmes (RMCPs) to reflect the revised FATF grey and black lists, ensuring that client risk-rating models are aligned with the June 2026 updates.
  • For your clients: Clients operating across borders or dealing with newly listed jurisdictions will face enhanced due diligence (EDD) measures, potentially requiring them to provide additional documentation regarding source of funds and beneficial ownership.

Originally published at https://accountingacademy.co.za/news/read/fic-outcomes-of-the-june-2026-meeting-of-the-fatf

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