FIC: New FICA cash declaration required for travellers

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FIC: New FICA cash declaration required for travellers

• 08 July 2026
• Miscellaneous
• South African Accounting Academy

Summary:
The Financial Intelligence Centre (FIC) has welcomed the commencement date of section 30 of the Financial Intelligence Centre Act, 2001 (FICA) regarding Cash Conveyance Reporting (CCR) – effectively fixed as 1 July 2026. 

Article:

The gazetting activates the requirement for domestic and foreign travellers to declare cash in their possession above the threshold of R100 000, when crossing the country’s land and seaports. Also activated is the responsibility for Customs and Excise of the South African Revenue Service (SARS) to receive such declarations made by travellers and make them available to the FIC.

From 1 July 2026, travellers crossing any of the country’s air, land or sea borders and who have in their possession cash, goods, currency and/or bearer negotiable instruments above the threshold of R100 000 will be required declare this via the Customs and Excise traveller management system. “Goods” include commercial goods or personal high-value items. 

The new reporting stream, called cash conveyance reporting or CCR, signals a significant enhancement in efforts to stem illicit movement of money across South Africa’s borders.

The Proclamation by the President was published in the Government Gazette on 5 June 2026.

In summary:

Other regulatory reports are provided to the FIC by financial and non-financial institutions identified in the FIC Act as being vulnerable to possible abuse for money laundering purposes. 

These regulatory reports include: 

• Cash threshold reports – on transactions exceeding R50 000
• Suspicious and unusual transaction reports – on transactions that are deemed to be suspect 
• Terrorist property reports – where there is suspicion that the reporting institution is in possession of property related to terrorism or terrorist financing. 

The FIC interprets and analyses the information provided in the regulatory reports to develop various products including financial intelligence. These intelligence reports are used by law enforcement, prosecutors and other competent authorities for their investigations, prosecutions and applications for asset forfeiture.  

Click here to download the Media Release:

https://www.fic.gov.za/wp-content/uploads/2026/07/Media-Release-Cash-conveyance-reporting-stream.pdf 

Relevance to Auditors, Independent Reviewers & Accountants:

• The Financial Intelligence Centre Act (FICA) is yet another piece of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
• As an auditor and independent reviewer, you need to consider amendments, regulations, guidance and directives that are gazetted relating to FIC and accountable institutions, to ensure that your clients (or even your own practice) comply with their reporting obligations.
• As this may affect your clients, you need to be up to date with all communication from FIC to ensure their compliance.

Relevance to Your clients:

• All travellers have to meet their reporting obligations in terms of the FIC Act, and Cash Conveyance Reporting is part of this.

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