FICA COMPLIANCE

Financial Intelligence Centre Act (FICA) Compliance

Mashele Finance PTY Ltd (FSP 55445 & NCRCP19670) is committed to complying with the Financial Intelligence Centre Act, 2001 (Act 38 of 2001), as amended, and all related regulations. This page outlines our obligations and procedures under FICA to prevent money laundering, terrorist financing, and other financial crimes.

What is FICA?

The Financial Intelligence Centre Act (FICA) is South African legislation designed to combat money laundering and the financing of terrorist activities. As a registered Financial Service Provider, Mashele Finance is legally obligated to implement measures that:

• Identify and verify the identity of our clients
• Maintain records of client information and transactions
• Report suspicious and unusual transactions to the Financial Intelligence Centre (FIC)
• Implement risk management and compliance programs

Customer Identification and Verification

In accordance with FICA, we are required to obtain and verify certain information from all clients before establishing a business relationship. This process includes:

For Individual Clients

• Full names and surname
• Date of birth
• South African ID number or valid passport number
• Residential address (not a PO Box)
• Contact details (telephone number and email address)
• Certified copy of identity document or passport
• Proof of residential address (not older than 3 months)

Acceptable Documents

We accept the following documents as proof of identity and residence:

• Identity Verification: Valid South African ID document or passport
• Proof of Residence: Municipal account, bank statement, telephone account, or any official document showing your name and physical address (not older than 3 months)

Record Keeping

Mashele Finance maintains comprehensive records of all client information and transactions as required by FICA. These records include:

• Client identification and verification documents
• Details of all financial products and services provided
• Transaction records and account statements
• Correspondence and communications with clients

All records are securely stored in our secure databases for a minimum period of five (5) years from the date of termination of the business relationship, as required by law.

Reporting Obligations

We are legally obligated to report certain transactions and activities to the Financial Intelligence Centre, including:

• Suspicious Transactions: Any transaction or activity that we reasonably believe may be related to money laundering, terrorist financing, or other illegal activities
• Cash Threshold Reports: Cash transactions above the prescribed threshold amounts
• Terrorist Property Reports: Any property that we know or suspect is terrorist property or property related to terrorist activities

Please note that we are prohibited by law from informing clients if we have filed a suspicious transaction report concerning their account or activities.

Risk Management and Compliance Program

Mashele Finance has implemented a comprehensive risk management and compliance program that includes:

• Regular risk assessments to identify and mitigate money laundering and terrorist financing risks
• Ongoing staff training on FICA requirements and suspicious activity identification
• Internal controls and procedures to ensure compliance with all regulatory obligations
• Regular monitoring and review of client accounts and transactions
• Appointment of a designated Money Laundering Control Officer responsible for FICA compliance

Data Security and Privacy

We take the security and privacy of your personal information seriously. All client information collected for FICA purposes is:

• Stored securely in encrypted databases with restricted access
• Protected by appropriate physical, technical, and organizational security measures
• Only accessible to authorized personnel who require it for legitimate business purposes
• Used solely for the purposes of FICA compliance and providing our financial services
• Handled in accordance with the Protection of Personal Information Act (POPIA)

Client Obligations

As our client, you are required to:

• Provide accurate and complete information during the identification and verification process
• Submit all required documentation within the specified timeframes
• Notify us promptly of any changes to your personal information, including contact details and residential address
• Update your identification documents if they expire or become invalid
• Cooperate with any additional verification requests we may make from time to time

Failure to provide the required information or documentation may result in delays in processing your application or the suspension or termination of services.

Products and Services Covered

Our FICA compliance procedures apply to all financial products and services offered by Mashele Finance, including:

• Personal Loans
• Funeral Cow Cash Plan
• Funeral Grocery Cash Plan

Updates and Amendments

This FICA compliance information may be updated from time to time to reflect changes in legislation, regulatory requirements, or our internal policies and procedures. We recommend that you review this page periodically to stay informed of any changes.

The current version of this document was last updated on the 28 of November 2025.

Contact Information

If you have any questions or concerns regarding FICA compliance or our verification procedures, please contact us: