You need to act now to become compliant.
The Department of Internal Affairs is gearing up quickly for the phase 2 update in the AML legislation. They are currently seeking new employees as the number of entities increase dramatically in 2019. New entities that become covered by the law:
-Real Estate Agents (1st January 2019)
-Lawyers and Conveyancers (1st July 2019)
-Accountants (1st October 2019)
-Companies dealing in high value items (1st August 2019)
Adding to current entities that need to comply: Debt collectors, casinos, cash transport, financial leasing, FX, payroll, remittance, trust and company service providers, lenders. The DIA is getting serious and so should you so if you are a reporting entity, the best time to sort out your compliance obligations is right away.
The latest DIA AML update is out. Take a look: