All terms Glossary
AML (Anti-Money Laundering)
The broad set of laws, regulations, and processes designed to prevent criminals from disguising illegally obtained funds as legitimate income.
AML is the umbrella term. FICA is South Africa’s specific implementation of it for accountable institutions, sitting alongside sanctions screening, PEP checks, and the reporting obligations the FIC administers.
For an estate agency, AML in practice means treating every transaction as one to verify, not just the obviously large or unusual ones: money laundering through property specifically relies on transactions that look ordinary on the surface.
See it in practice, not just in theory.
Read how Lucere handles this on features, check the FAQ for common questions, or get started.
Related terms
FICA (Financial Intelligence Centre Act)The South African law requiring accountable institutions to verify clients, keep records, and report suspicious activity, in order to combat money laundering and terror financing.
Sanctions ScreeningChecking a client’s name against local and international sanctions and watchlists to confirm they aren’t a designated or restricted party.
PEP (Politically Exposed Person)Someone who holds, or has held, a prominent public position, or is closely related to someone who does, and therefore carries a higher risk profile requiring enhanced due diligence.