Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)

Directives

Directive for conduct within the national payment system in respect of the Financial Action Task Force Recommendations for electronic funds transfers - Effective 15 August 2022

Directive No. 1 of 2022

6. Effective date and non-compliance
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6.1 This directive cancels and replaces the ‘Directive for conduct within the national payment system in respect of the Financial Action Task Force Recommendations for electronic funds transfers, Directive 1 of 2015’.

 

6.2 This directive becomes effective after 30 business days from the date of publication hereof.

 

6.3 Failure to comply with this directive may result in the imposition of an administrative sanction by the SARB, in accordance with section 45C of the FIC Act.