SearchWorks together with its compliance platform Voca, has announced new initiatives to support attorneys in navigating increasingly complex compliance requirements.
Regulatory standards set by the Financial Intelligence Centre (FIC) continue to raise the bar for anti-money laundering, client verification, and ongoing monitoring. For law firms, this translates into heightened scrutiny, greater responsibility, and potentially severe risks if compliance lapses occur — including multimillion-rand fines, reputational damage, and operational disruption.
Yet compliance isn’t only about avoiding penalties. “Compliance is a shield,” says Chantelle Frier, from the SearchWorks and Voca team. “When attorneys demonstrate rigorous compliance, they build client trust and protect their practice, their clients, and their reputation.”
To help attorneys and accountable institutions navigate compliance, SearchWorks and Voca highlight the seven key obligations under the Financial Intelligence Centre Act (FICAA):
- Register with the FIC — All accountable and reporting institutions must register with the Financial Intelligence Centre via the goAML EE system.
- Appoint a Compliance Officer — Senior management must formally appoint an AML/CFT Compliance Officer with the competence and authority to enforce compliance.
- Develop a Risk Management and Compliance Programme (RMCP) — Firms must document and continuously review controls to mitigate anti-money laundering risks.
- Perform Customer Due Diligence (CDD) — From verifying identity and source of funds to assessing beneficial ownership, sanctions checks, and politically exposed persons (DPEPs/FPEPs), firms must implement thorough client checks.
- Submit Reports to the FIC — Obligatory reporting includes cash threshold reports (CTR) for transactions above R49,999, suspicious transaction/activity reports (STRs/SARs), and terrorist property reports (TPRs).
- Maintain Record Keeping — Institutions must securely retain client and transaction records for a minimum of five years, ensuring accessibility for investigations or prosecutions.
- Provide Ongoing Training — Section 43 of FICAA mandates regular AML/CFT training for employees. Failure to comply may result in administrative sanctions.
“These obligations form the foundation of a compliant practice. Attorneys who embed them into their workflow don’t just meet legal requirements — they build resilience, trust, and long-term sustainability,” says Frier.
SearchWorks and Voca make compliance practical and efficient:
- Know Your Client (KYC): Streamlined identity, credit, criminal record, and property ownership checks.
- Risk Rating & Monitoring: Assign risk levels and receive automatic alerts when high-risk clients’ circumstances change.
- Technology as a Partner: Voca integrates trusted SearchWorks datasets into one platform, giving attorneys a single login to verify clients, track risks, and stay aligned with FIC requirements.