Is VerifyNow AML PEP Screening FICA Compliant in South Africa?

Is VerifyNow AML PEP screening FICA compliant? Yes—when used correctly as part of a risk-based compliance programme. VerifyNow’s AML and PEP screening supports key FICA obligations for KYC and ongoing monitoring in South Africa.

If you’re a General Business that needs to onboard customers, verify identities, and reduce financial crime risk, this guide explains what “FICA compliant” really means and how to use VerifyNow to strengthen your compliance posture.

Important compliance note
No tool makes your business “automatically compliant.” FICA compliance depends on your policies, processes, evidence, and oversight—and the screening tool must fit into that framework.

What “FICA Compliant” Really Means for AML & PEP Screening

Bold truth: FICA is outcomes-based, not tool-based

Under FICA, accountable institutions and many businesses with AML exposure must apply a risk-based approach to customer due diligence (CDD). That means you must be able to show you:

Identify and verify customers (and where relevant, beneficial owners)
Screen for sanctions, PEPs, and adverse media (where your risk assessment requires it)
Apply enhanced due diligence (EDD) for higher-risk relationships (e.g., PEPs)
Conduct ongoing monitoring and keep records for auditability

In practical terms, a tool like VerifyNow helps you meet these obligations by making screening repeatable, consistent, and auditable—but your business must still set the rules.

Bold connection: AML, PEP screening, and KYC work together

Think of KYC as your onboarding foundation and AML screening as your risk filter:

KYC confirms who the person is
PEP screening assesses who they are connected to (political exposure and influence)
Sanctions screening checks whether you’re prohibited from doing business
Adverse media adds context for reputational and financial crime risk

Using VerifyNow’s compliance tools helps you implement these checks in a way that supports FICA-aligned decisioning and evidence.

Bold compliance fit: General Business use cases

Even outside traditionally regulated sectors, many General Business categories use AML/PEP screening because they face:

Fraud and impersonation risk
High-value transactions
Third-party payment exposure
Cross-border customers or suppliers
Reputational risk (and board-level governance obligations)

Important compliance note
If your business is unsure whether it’s an “accountable institution,” use FICA-aligned practices anyway—risk-based KYC is increasingly expected by banks, insurers, and enterprise partners.

Helpful authorities:

Financial Intelligence Centre guidance: fic.gov.za
POPIA resources: popia.co.za
Regulator information and breach guidance: inforegulator.org.za

How VerifyNow Supports FICA-Aligned AML & PEP Screening

Bold capability: PEP screening that supports risk-based decisions

PEP screening is not a “yes/no” checkbox. It’s a trigger for EDD and closer scrutiny. With VerifyNow’s platform, you can embed screening into onboarding and reviews so your team can:

Flag potential PEP matches
Record outcomes and internal decisions (e.g., false positive vs confirmed match)
Apply EDD steps when required
Maintain an audit trail for compliance reviews

Bold capability: sanctions and watchlist screening as part of AML controls

For FICA-aligned controls, screening should be consistent and repeatable. VerifyNow supports structured screening so you can reduce manual errors and improve defensibility.

Common screening moments (recommended):

At onboarding (before establishing a relationship)
Before high-value transactions
Periodically based on customer risk rating
On trigger events (change of ownership, new directors, address changes)

Bold capability: evidence and recordkeeping for audits

FICA compliance often succeeds or fails on proof. VerifyNow helps you keep your compliance house in order with records that support:

Who was screened
What was screened (PEP/sanctions/adverse media where applicable)
When it was done
What decision was made and by whom
What follow-up steps were taken (EDD, approvals, monitoring)

Important compliance note
In an audit or investigation, your ability to show consistent process + retained evidence is just as important as the screening itself.

Bold POPIA alignment: process personal data lawfully

AML screening uses personal information, so you must align with POPIA. VerifyNow supports a controlled workflow where you can:

Limit access to screening results (role-based handling internally)
Document lawful basis and purpose limitation
Apply retention rules aligned to FICA recordkeeping

POPIA essentials to align with your screening process:

Minimality: only collect what you need
Purpose limitation: use it only for compliance and risk
Security safeguards: protect screening outputs and ID data
Retention: keep records as required, then dispose securely

You can read more at popia.co.za and on the Information Regulator’s site: inforegulator.org.za.

Practical FICA Workflow: Using VerifyNow for KYC + AML + PEP

Bold step-by-step: a simple, defensible compliance flow

Here’s a practical General Business workflow you can implement using VerifyNow:

Customer onboarding
- Capture customer details
- Verify identity (KYC)
- Run AML + PEP screening
Risk rating
- Assign low/medium/high risk based on your policy
Decision & approval
- Approve, reject, or escalate for EDD
Ongoing monitoring
- Rescreen based on risk tier and trigger events
Recordkeeping
- Retain evidence and decision notes

Bold table: what to do when screening flags a PEP

Screening Outcome	What It Usually Means	Recommended Action
No match	No relevant hits found	Proceed with standard onboarding and retain proof
Possible match	Similar name/details or partial match	Verify identifiers, document checks, resolve as false/true match
Confirmed PEP	Customer is a PEP or closely associated	Apply EDD, senior approval, enhanced monitoring
Sanctions hit	Potential prohibited relationship	Stop onboarding, escalate internally, follow legal guidance

Important compliance note
A PEP is not automatically “high risk”—but it is a strong indicator that EDD and senior oversight may be required.

💡 Ready to streamline your General Business compliance? Sign up for VerifyNow and start verifying IDs in seconds.

POPIA, Data Breach Reporting & Penalties: What’s Changed Recently

Bold update: breach reporting is a real operational requirement

In South Africa, organisations are under increasing pressure to respond quickly to security incidents. If personal information is compromised, you may need to notify affected parties and the regulator depending on the circumstances and risk.

Make sure your incident response plan includes:

A clear internal escalation path (legal/compliance/IT)
Evidence preservation steps
Customer notification templates
Vendor management processes (including screening and onboarding providers)

Reference the regulator for guidance and notifications: inforegulator.org.za.

Bold update: POPIA eServices Portal

The Information Regulator’s POPIA eServices Portal is now a practical part of compliance operations for many organisations—especially for submissions, guidance access, and regulatory interactions.

Actionable steps for General Business:

Ensure your Information Officer details are up to date
Document your internal POPIA processes (access requests, breach response, retention)
Keep your compliance evidence organised and accessible

More resources: inforegulator.org.za and popia.co.za.

Bold update: penalties can be severe (up to ZAR 10M)

POPIA enforcement risk is no longer theoretical. Penalties can reach ZAR 10M, and reputational damage can be even more costly.

To reduce exposure:

Apply least privilege access internally
Encrypt and securely store KYC/AML outputs
Train staff on handling PEP/sanctions results (no oversharing)
Use consistent processes and keep audit trails

Important compliance note
Compliance isn’t only about passing audits—it’s about preventing data misuse and reducing financial crime exposure before it becomes a crisis.

FAQ: VerifyNow AML & PEP Screening and FICA Compliance

Bold FAQ: Is VerifyNow AML PEP screening “FICA compliant”?

VerifyNow supports FICA-aligned screening and recordkeeping as part of a broader compliance programme. Your business becomes compliant by implementing the right policies, risk rules, approvals, and monitoring—with VerifyNow providing the tooling and evidence trail.

Bold FAQ: Do all General Business companies need PEP screening?

Not always by law, but many businesses adopt PEP screening because:

Banks and partners expect it
It reduces fraud and reputational risk
It supports a risk-based KYC approach

A good approach is to define when screening is mandatory based on your risk assessment.

Bold FAQ: What should we do when we find a PEP match?

Follow your policy for EDD, which often includes:

Confirming identity with stronger verification steps
Understanding source of funds/wealth (where relevant)
Senior management sign-off
Increased monitoring and periodic rescreening

Bold FAQ: How often should we rescreen customers?

Use a risk-tier schedule:

High risk: more frequent rescreening and transaction monitoring
Medium risk: periodic rescreening
Low risk: rescreen on trigger events

Your policy should define the cadence and triggers clearly.

Bold FAQ: Where can we find official guidance?

Start with these authoritative sources:

Financial Intelligence Centre: fic.gov.za
Information Regulator: inforegulator.org.za
POPIA resources: popia.co.za

Get Started with VerifyNow Today

If you want a practical way to support FICA, strengthen KYC, and operationalise AML + PEP screening in your General Business, VerifyNow gives you a clear, auditable workflow—without slowing down onboarding.

Benefits of signing up with VerifyNow:

Faster onboarding with structured KYC and screening flows
Reduced AML risk with consistent PEP and sanctions screening
Audit-ready evidence for compliance reviews and internal governance
POPIA-aware processes to support lawful, secure data handling
Scalable operations as your customer base grows 📈

Also explore features and packages here: Learn More About Our Services

💡 Ready to streamline your General Business compliance? Start Your Free Trial and put FICA-aligned screening in place today.