Financial Intelligence Centre (FIC) Act
Youverify provides AI-powered AML compliance and fraud prevention solutions for banks and businesses in South Africa. Our Unified FRAML Platform enables seamless KYC and KYB verification, real-time transaction monitoring, and fraud detection, ensuring compliance with FIC Act (FICA) regulations. Strengthen your defenses against financial crime with one secure, intelligent fraud platform.
Businesses are to perform KYC on their customers for hitch-free operations. Regulating bodies include:
Financial Intelligence Centre (FIC) Act
Companies and Intellectual Property Commission (CIPC)
POPIA
South Africa is one of the key KYC/ AML jurisdictions in Africa and is a part of the Financial Action Task Force (FATF). The Financial Intelligence Centre Act (FICA) of 2001 is the primary legislation law guiding AML and KYC operations
Stay Compliant with Youverify
Our comprehensive compliance platform ensures your business meets all essential requirements while maintaining operational efficiency across the South African market.
Validate CIPC-registered businesses and UBOs.
Secure POPIA-compliant consent during onboarding.
Identify cross-border money laundering risks.
Flag duplicate accounts and fraudulent merchants.
Track high-value transactions for FIC Act reporting.
Encrypt personal data to POPIA standards.
Ready-to-deploy workflows for CBN, FIC Act, FinCEN, and more.
Auto-updated PEPs, sanctions, and adverse media databases.
SOC 2, ISO 27001, GDPR, and local certifications (NDPR, POPIA,)
Customer & Business Onboarding, Fraud & Risk Insights, and Transaction Monitoring—for seamless local compliance.
See how Youverify optimizes customer and business onboarding for speed, security, and compliance.