Is Your Law Firm FICA Compliant? Does it make business sense to comply?
The Financial Intelligence Centre Act, 2001 (‘’the FIC Act’’) imposes compliance obligations on accountable institutions as part of measures for combatting money laundering and financing of terrorist and related activities. Attorneys or law firms are included on the list of 16 institutions in Schedule 1 of the FIC Act that are deemed to be accountable…