Directive No 3 of 2020 – FIC Registration Requirements

FINANCIAL INTELLIGENCE CENTRE

_________________________________________

P.O. BOX 2882, Windhoek

Tel: +264 61 283 5100 / 5216 / 5283, Fax +264 61 283 5259

Web address: www.fic.na

E-mail address: helpdesk@fic.na

DIRECTIVE NO 03 OF 2020

REQUIREMENT TO REGISTER WITH THE FINANCIAL INTELLIGENCE

CENTRE IN TERMS OF THE FINANCIAL INTELLIGENCE ACT 13 (ACT

NO. 13 OF 2012, AS AMENDED (FIA)

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1. INTRODUCTION

The Financial Intelligence Centre (FIC) is tasked with the coordination of Namibia’s Anti-

Money Laundering, Combatting the Financing of Terrorism and Proliferation

(AML/CFT/CPF) activities1. In furtherance of this mandate, the FIC’s responsibility

includes supervision of various sectors that deal in specified services as per Schedules

1 and 3 of the FIA.

The FIA, as per section 39(2) requires that only institutions supervised by the FIC

registers with the FIC. On the other hand, Regulation 20(1) of the FIA requires all reports

made to the FIC be made in the format specified by the FIC and be submitted

electronically to the FIC by means of the internet-based reporting portal provided by the

FIC for this purpose. In order to comply with such reporting requirement, persons and

institutions should register their particulars, as directed herein, in order to be availed with

access to such electronic system.

This Directive is issued in terms of sections 9(2)(c) and 54(2) of the FIA. Its main objective

is to: Enable effective supervision of identified institutions; Explain registration

requirements of institutions and Calls for such institutions to ensure timely registration

with the FIC.

2. REGISTRATION REQUIREMENTS

Institutions and persons applying for registration with the FIC should avail the following

information to initiate the registration process:

a) The Registration Form, attached hereto on pages 5 and 6, or which can be

downloaded from the FIC’s website ( www.fic.na ) - under the Forms folder should

be completed in full and submitted to the FIC;

1 the Financial Intelligence Act, 2012 (Act No. 13 of 2012) (FIA), as amended, section 9(1) (f) and (g)

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b) As of 08 September 2020, all institutions applying for registration are expected to

submit a copy of their AML/CFT/CPF Compliance Programme, which has been

duly approved by relevant management, as per sections 39(3) and (4) of the FIA.

An AML/CFT/CPF Compliance Programme is a document that outlines how

institutions comply with relevant provisions of the FIA;

c) A copy of the entity/company’s registration documents;

d) Relevant details2 of the Reporting Officer or Compliance Officer; and

e) Availing any other document/information which the FIC may deem fit in the

advancement of supervisory activities.

3. REGISTRATION PROCESS

a) The applying entity/company/person submits all required documentation to the FIC

by emailing same to register@fic.na;

b) If the registration submission complies with all requirements, the FIC will

commence the process to register the applying entity/company/person; and

c) After all due diligence is completed, the FIC will send a Confirmation Letter to the

Compliance officer of such entity/company, as per the registration details provided.

4. NON-COMPLIANCE WITH THE PROVISIONS OF THIS DIRECTIVE

The consequence of failure to register with the FIC undermines the ability to ensure

effective supervision in terms of the FIA. Such failure not only hampers the effective

functioning of the entire AML/CFT/CPF framework, but may also cause the non-adhering

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These include: the Title; First name; Surname; ID number; Email; Occupation; Cell; Nationality and Residential address.

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institution to be subjected to criminal penalties and/or administrative penalties, as

mandated by the FIA.

5. GENERAL

This document may contain statements of policy which reflect the FIC’s administration of

the legislation in carrying out its statutory functions. This directive is issued without

prejudice to the FIA and its complementing Regulations. The information contained in this

document is intended only to provide a summary on these matters and is not intended to

be comprehensive.

The Directive can be accessed at www.fic.na

DATE ISSUED: 08 SEPTEMBER 2020

DIRECTOR: FINANCIAL INTELLIGENCE CENTRE

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The Financial Intelligence Act 2012 (Act No.13 of 2012) (FIA) requires all Accountable and Reporting entities

to register their particulars with the centre for the purpose of supervising compliance with this Act. We request

your good office to complete the information below for registration purposes. The completed form must be

emailed to register@fic.na.Once your institution is registered, a confirmation letter will be sent to your

registered Anti Money Laundering Compliance Officer.

1. Is your organisation already registered with the FIC? Tick the appropriate box below.

Yes

No

2. If indicated Yes above, kindly indicate the reason for registering. Tick the appropriate box below. If

indicated No above, continue with point 3.

Replacing the current registered reporting person

Additional reporting person

United Nations Security Council (UNSC) sanction screening only

3.

Details of the Reporting Person

Title:

First name:

Surname:

ID number:

Email:

Occupation:

Cell:

Nationality:

Residential address:

Details of the Entity

Name of entity:

Company registration

number:

Type of business:

Physical address:

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Town:

Phone:

Fax:

Should you have any queries, please do not hesitate to contact the FIC at +264 61 283 5100/5287/5179.

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