Tag: Financial Intelligence Centre Act

Locally, as trust compliance becomes more complex and trusts become more costly to administer, their value is increasingly being questioned. However, a trust’s worth extends beyond its financial benefits, and as such, they are still very relevant tools to use in a well-crafted estate plan, especially for high-net-worth families. 

The Financial Intelligence Centre Act, No 38 of 2001 (FICA) is a piece of legislation introduced in South Africa to combat money laundering and the financing of terrorism (MLFT).