Is the reporting obligation of attorneys in terms of section 29 of the Financial Intelligence Centre Act 38 of 2001 a myth or a reality
Journal: UpSpace Institutional Repository (University of Pretoria)
Year: 2011

This research examines an attorney’s reporting obligation in terms of section 29 of the Financial Intelligence Centre Act 38 of 2001 (FICA) to report suspicious and unusual transactions, which are not subject to legal professional privilege. In order to contextualise this reporting obligation and to understand its application, terminology such as the proceeds of crime and money laundering is explained. Global best practice anti-money laundering guidelines, as manifested in the Financial Action T