If your business sells any physical items, such as heavy machinery, equipment, or building materials, for R100 000 or more, the Financial Intelligence Centre (FIC) is watching more closely than ever. Under the FIC Act, you are likely defined as a High-Value Goods Dealer (HVGD), a classification that comes with customer due diligence and reporting obligations you cannot afford to overlook.

Criminals have increasingly turned to high-value transactions to launder money, using purchases of vehicles, machinery and equipment to convert illicit funds into legitimate-looking assets. This shift in tactics is exactly why the sector is now under closer FIC scrutiny, and why the regulator expects HVGDs to have proper controls in place.

The businesses that get caught out are usually the ones that cannot tell the difference between a normal high-value sale and one with red flags attached. Structured or split cash payments, deals with no clear business rationale, and first-time customers making large purchases with no trading history are all signs that should trigger a closer look, not a quick sign-off.

What does FICA actually require from your business?

Join FICA compliance experts nCino KYC Africa for a webinar on the  August 19 at 10:00 to understand why businesses like yours have become targets for money laundering, and what the FIC expects from you.

• The classification of businesses selling goods over R100 000
• How your industry is being used to launder money
• Why this industry is now on the FIC’s radar
• The red flags that separate compliant businesses from exposed ones
• What the FIC expects from businesses like yours

Date: Wednesday, August 19, 2026

Time: 10:00 –11:00

Platform: Online, Zoom

Cost: Complimentary

Click here to register >>>

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Do not wait for the FIC to come knocking

FICA compliance is no longer something high-value goods dealers can afford to put off. Whether you are just starting your compliance journey or looking for a more efficient way to manage your obligations, nCino KYC combines powerful technology with expert guidance to help you stay compliant with confidence. Get in touch with our team to find out how we can help your business.

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Need more details on the webinar? Get in touch at kycafrica.communication@ncino.com.

For FICA-related questions or a closer look at how nCino KYC’s software supports HVGDs, visit https://kycafrica.ncino.com/.