FIC – Guidance Note 7A

We refer to the FIC amended Guidance Note 7A (dated February 2025) and Annexure A, which detail the updates that need to be made on all Risk Management and Compliance Programs (RMCPs) to meet the FIC’s requirements.

So what is expected of you, as an Accountable Institution: Review and update your RMCP and ensure that it is updated to align with the new guidance. This includes documenting systems and controls for managing money laundering (ML) and terrorist financing (TF) risks.