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FIC: PCC 23A re the Interpretation of Credit Providers
- 07 April 2026
- Miscellaneous
- South African Accounting Academy
Summary:
The Financial Intelligence Centre (FIC) has published the final Public Compliance Communication 23A (PCC 23A), to provide guidance on the interpretation of the scope of credit providers as designated under item 11 of Schedule 1 to the Financial Intelligence Centre Act, 2001 (Act 38 of 2001) (FICA) and potential risk indicators.
Article:
This PCC 23A provides guidance on the interpretation of the scope and practical application of the definition of “credit providers” as designated under item 11 of Schedule 1 to FICA. PCC23A also provides guidance through an overview of certain anti-money laundering, counter terrorist financing and counter proliferation financing vulnerabilities, and potential risk indicators.
In summary, A “credit provider” is designated in item 11 of Schedule 1 to FICA as follows:
- A person who carries on the business of a credit provider as defined in the National Credit Act, 2005 (Act 34 of 2005).
- A person who carries on the business of providing credit in terms of any credit agreement that is excluded from the application of the National Credit Act, 2005 by virtue of section 4(1)(a) or (b) of that Act.
PCC 23A was made available for two previous rounds of consultation. All comments received have been considered and incorporated in this final PCC 23A, where appropriate. Access the Consultation Feedback Note with the comments at https://www.fic.gov.za/wp-content/uploads/2026/03/Consultation-feedback-note-Comments-on-PCC23A-relating-to-credit-providers.pdf Refer to our previous Alert dated 8 January 2025
Access the Web notice regarding PCC 23A at https://www.fic.gov.za/2026/03/30/web-notice-pcc-23a/
Click here to download the 17-page PCC 23A:
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 interpretation of the definition of Credit Providers.
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.