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FIC: Draft PCC 123 – CASPs Travel Rule
- 20 March 2026
- Miscellaneous
- South African Accounting Academy
Summary:
The Financial Intelligence Centre’s (FIC) has issued draft public compliance communication 123 (Draft PCC 123) on the Travel Rule regarding Crypto Asset Service Provider (CASPs) for comment.
Article:
Draft PCC 123 for accountable institutions in particular, items 12 and 22 of Schedule 1 to the FIC Act, on the implementation of Directive 9 of 2024, which came into effect on 30 April 2025.
Draft PCC 123 is aimed at providing practical guidance to Crypto Asset Service Providers (CASPs) that provide or engage in crypto asset transfers activities for or on behalf of a client, to implement the requirements of Recommendation 16 of the Financial Action Task Force, referred to as the ‘travel rule’ in the context of crypto asset transfers.
Deadline for comments was 16 March 2026.
Click here to download the 20-page Draft PCC:
https://www.fic.gov.za/wp-content/uploads/2026/03/2026.3-Draft-PCC-123_Travel-Rule-for-CASPS.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Auditors, Independent Reviewers and Accountants should be aware of the latest publications and guidance issued by regulators, such as the FIC – to enable their assessment of accountable institutions’ compliance with FICA.
- When advising clients or performing this function on their behalf, practitioners should be aware of the finer details and specific guidance on the Travel Rule regarding Crypto Asset Service Provider (CASPs).
Relevance to Your clients:
- Relevant Accountable Institutions (companies and CCs) should be aware of the latest publications and guidance issued by regulators, such as the FIC.