A Fica Bonus is a bonus that a bookmaker gives to punters for registering a new account and sending in their fica documents. Once the Fica documents have been approved the bookmaker will credit your account with a Fica Bonus.
Where to get a Fica Bonus?
We’ve added all the available ones to our Fica Bonus list so you don’t have to do lots of searching!
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What to do after I have claimed my Fica Bonus?
Check the lastest deposit bonuses here.Once you have claimed and used your fica bonus it is time to make your first deposit. Check out our list of bookmakers with deposit bonuses here.
What documents can I use for Fica?
Your green barcoded South African identity document or the new smart identity card.
A utility bill (such as your water or electricity account) that shows
the stand/erf number of your property and your name and address. If you are living with the person who owns or rents the home, he or she
should confirm to us in writing the relationship between the two of you, the address and his or her date of birth and identity number. This must be accompanied by an acceptable document showing the name and residential address of this person. You are able to obtain a template for this letter at your nearest branch.
What is Fica?
Act 38 of 2001 (“Fica”) was introduced in South Africa to govern financial intelligence and to assist in the combating of financial crime. The recent Amendment Act to Fica is intended to enhance and modernise our South African framework in accor-dance with the latest approaches of the international community. All entities classified as “accountable institutions” in terms of Fica must comply with Fica, which includes the latest amendments thereto.
The key amendment introduced is a shift from a rules-based approach to a risk-based approach in ensuring Fica compliance, which simply means that accountable institutions must consider the potential risk involved with establishing a business relationship or concluding a single transaction with a particular client. Accountable institutions are obliged to conduct “client due diligence” (“CDD”) to establish and verify the identities of their clients. Essentially you are required to know who your client is with whom you are doing business. The Amendment Act now imposes enhanced measures relating to ongoing CDD and the monitoring of business relationships, as well as obligations in respect of prominent and influential persons.
The Amendment Act also introduces additional due diligence measures relating to legal persons, trusts and partnerships. Client due diligence processes will therefore need to be reviewed by every accountable institution.