What is FICA?

Abbreviation: Federal Insurance Contributions Act.

The aim of FICA is to establish and maintain an effective policy and compliance framework and opreational capacity to oversee compliance and to provide high qualilty, timeous financial intelligence for use in the fight against white collar crime, money laundering and terror financing in South Africa.

FICA was established to ensure integrity and stability of its financial system, to develop ecnomically and ensure responsible and honest citizens.