FIC DIRECTIVE 8 OF 2023 – EMPLOYEE SCREENING BY ACCOUNTABLE INSTITUTIONS
On the 31st of March 2023, the Financial Intelligence Centre issued Directive 8 of 2023 which applies to all accountable institutions.
Directive 8requires accountable institutions to screen prospective and current employees for competence and integrity, based on a risk-based approach, as well as to scrutinise employee information against the targeted financial sanctions lists.
ICS want to remind all clients of their obligation to keep record of the manner and outcome of such screening exercises and that clients must be able to make both the manner and outcome of such employee screenings available to the FIC upon request.
We furthermore recommend incorporating these screening processes as part of your Risk Management and Compliance Programme as well as internal FICA policies.
This Directive 8 is effective as of 31 March 2023.