FICA / RMCP Compliance
FICA and RMCP Compliance Support for Accountable Institutions
Hobbs Sinclair helps accountable institutions develop, strengthen, and implement practical FICA compliance frameworks, from RMCP drafting and review to risk-based controls, staff training, and internal compliance support.
RMCP support
Drafting, review, and framework refinement
Risk-based approach
Controls aligned to your business model and exposure
Implementation help
Training and compliance function support
Ideal fit
Who this service is for
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Institutions that need an RMCP drafted from the ground up
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institutions that already have an RMCP but need it reviewed or strengthened
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teams that want more practical, risk-based controls
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businesses that need help clarifying internal compliance responsibilities
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institutions that want staff training that supports real implementation
Why this matters
A weak or generic RMCP creates avoidable compliance risk. The longer gaps remain unaddressed, the harder it becomes to show that your framework is tailored, implemented, and actively supported in practice. It is far better to tighten the framework before a problem exposes it.
A compliant RMCP is not optional
Your RMCP should not be a generic document that sits untouched. It should reflect your institution’s activities, client base, risks, controls, and reporting responsibilities. Hobbs Sinclair helps you build a framework that is defensible on paper and workable in practice.
Our FICA and RMCP compliance support includes
Customer and record controls
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Customer due diligence
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Record-keeping requirements
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Supporting onboarding procedures
Governance and reporting
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Reporting obligations
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Internal governance structures
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Clear compliance responsibilities and escalation lines
Risk framework and implementation
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Risk-based controls
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RMCP drafting and review
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Employee training
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Implementation support
How Hobbs Sincalir can help
Build a framework that fits your institution
We help tailor the RMCP and supporting controls to your actual operations, not a generic template.
Strengthen implementation
A framework only works when people know what it means in practice. We help translate compliance into day-to-day action.
FICA and POPIA training workshops
We equip your staff with a clear understanding of core obligations, reporting duties, and good compliance practice.
Create clearer internal ownership
We help define responsibilities, reporting lines, and the structure needed to support better oversight.
How it works
1
Assess the current position
We assess your obligations, current framework, risk profile, and the main gaps that need attention.
2
Draft or refine the framework
We develop or strengthen the RMCP, supporting controls, and the practical structure behind it.
3
Embed it properly
We help clarify responsibilities, support training, and strengthen implementation so the framework works in real operations.
Frequently asked questions
What is an RMCP, and why can’t I just use a template?
A Risk Management and Compliance Programme (RMCP) is a legally mandated document that outlines how your business identifies and mitigates money laundering and terrorism financing risks. Under Section 42 of the FIC Act, a generic template is not sufficient. Your RMCP must be tailored to your specific client base, products, and delivery channels. An inadequate or "copy-paste" RMCP is one of the first things flagged during a FIC inspection, leading to heavy non-compliance penalties.
My business is already FICA compliant; why do I need a 2026 update?
FICA is no longer a "once-off" registration. The 2025 General Laws Amendment Act introduced stricter requirements for 2026, including mandatory Lifestyle Audits for high-risk profiles and enhanced Ultimate Beneficial Owner (UBO) transparency. If your internal controls haven't been updated to reflect these new digital and crypto-asset reporting standards, your business is likely exposed to significant regulatory risk.
What are the penalties for non-compliance with the FIC Act?
The Financial Intelligence Centre (FIC) has moved from "education" to "enforcement." Administrative sanctions can include public reprimands, restricted business activities, or financial penalties. For companies, these fines can reach up to R50 million, while individuals face potential imprisonment. Beyond the fines, the "name and shame" nature of public sanctions can cause irreparable reputational damage and the loss of banking facilities.
How does Hobbs Sinclair help us prepare for a FIC Inspection?
We act as your "pre-audit" partner. We don't just draft your RMCP; we implement a Risk Rating Framework and provide the required staff training that the FIC looks for. Our team conducts a gap analysis to ensure your Customer Due Diligence (CDD) and record-keeping meet the 2026 standards. If you are notified of an inspection, we provide the technical support needed to demonstrate that your risk-based controls are active, effective, and fully documented.
Hobbs Sinclair
Specialist accounting, tax, and compliance support tailored to your business and regulatory requirements.
Company Info
Co Reg: 2001/029149/21
VAT number: 4750199863
Address: 1st Floor, Constantia Village Courtyard, Constantia Main Road, Constantia, Cape Town, 7806