Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)Chapter 4 : Compliance and Enforcement51. Failure to report cash transactions |
| (1) | An accountable institution or reporting institution that fails, within the prescribed period, to report to the Centre the prescribed information in respect of a cash transaction in accordance with section 28, is guilty of an offence. |
| (2) | An accountable institution or reporting institution that fails, within the prescribed period, to report to the Centre the prescribed information in respect of a cash transaction in accordance with section 28, is non-compliant and is subject to an administrative sanction. |
[Section 51 substituted by section 41 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]