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User GuideWhat's NewHome Page
  • Frequently Asked Questions
  • FIRST FLIGHT
    • What can the Mobiloan App Do?
    • What are the device requirements?
    • How much does Mobiloan cost?
    • Can I migrate to Mobiloan with an existing Amplifin subscription?
    • How do I reset my login password?
  • LOAN ORIGINATION
    • What are the various loan statuses?
    • How do I unblock a blocked loan?
    • How can I dispute a credit bureau listing that is incorrect ?
    • How to add Custom Informal Occupations ?
    • How to Retrieve and Authorize Electronic Bank Statements in Mobiloan
    • Why does Mobiloan remove the expense disclosure ?
    • How does Mobiloan Calculate the Minimum Expenses Required on an given loan?
    • How to capture the address of a client?
    • How to perform a FIC Enquiry ?
    • Why is Mobiloan allocating the surplus as an expense, and removing the NCR disclosure?
    • How to reverse a loan payout?
    • What is Management Hold Signoff Payout Alert?
    • How to create and link a FEZA Card to a client?
  • COLLECTION
  • What are the Benefits of a Ticketing System for Overdue Collections
  • What do the various collection ticket categories mean ?
  • How to update the status of a collection ticket?
  • How to view a summary of collection tickets?
  • TRANSACTIONS
    • What are the basic navigation shortcuts on the Client Ledger Screen?
    • How do I manually change the status of a loan?
    • How do I manage Unlinked Transactions?
    • How does Mobiloan manage adverse loans?
    • How do I post a manual receipt/refund ?
    • How to perform a wallet or eft refund?
    • What is a payout deduction?
    • How to resubmit a loan status to SACCRA?
  • How to Enable Auto - Handover and Auto - Write Offs.
  • MAINTENANCE
    • How to create a new device in Mobiloan?
    • How to generate a new enrolment link for a device?
    • How to create a new user in Mobiloan?
    • How can I modify the ID Number or Passport of an exiting Client?
  • troubleshooting
    • How to upload a diagnostic report ?
    • Why do outgoing voice calls go directly to voicemail?
    • How do I fix the time synchronization error on my Windows PC?
    • How to Grant Storage and Camera Permissions to the "Mobiloan" App on Android?
    • How to bypass the Mac Installation Warning?
    • Why aren't all users populating when selecting a branch manager in Branch Setup?
  • How to Clear Browser Cache for Various Desktop and Mobile Browsers
  • GENERAL
    • How to enable multi-factor login authentication ?
    • About Mobiloan - FIC Integration
    • What languages does Mobiloan support for contractual agreements?
    • How do I enable Multiple Mobiloan Containers on my Desktop PC?
    • How do I Contact Mobiloan Support?
    • How do I verify my Email Address?
    • How can I add cellphone numbers to SMS messages without triggering a Mobiloan warning?
    • Understanding and Leveraging the Search Results Screen in Mobiloan
    • How do I get started with Insurance Integration ?
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On this page
  • How does Mobiloan ensure FICA Compliance?
  • TFS Listings
  • What is an RMCP and How does Mobiloan facilitate custom RMCP
  • Enabling the FIC Integration in Mobiloan
  • Accessing Client FIC Records
  • Understanding DPIP and FPPO Individuals in South Africa
  • FIC Pricing Tiers

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  1. GENERAL

About Mobiloan - FIC Integration

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Last updated 2 months ago

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The Financial Intelligence Centre (FIC) Act forms part of South Africa’s anti-money laundering (AML) and counter-terrorism financing regime.

By incorporating a Client Due Diligence (CDD) process as well as client screening against the FIC’s Targeted Financial Sanctions list (TFS List) , Mobiloan plays a proactive role in preventing loans to sanctioned individuals.

📕Related User Guide Documentation


How does Mobiloan ensure FICA Compliance?

A Client Due Diligence (CDD) is a mandatory requirement for all new and subsequent FIC screenings within the loan origination process. This Client Due Diligence screen facilitates the initiation of a new FIC inquiry.

The FIC inquiry process comprises the following steps:

  • A live, in-person CDD conducted by the loan originator.

  • A real-time TFS list check against the FICA database performed by Mobiloan.

  • A comprehensive risk assessment based on the CDD findings utilizing a decision matrix.

By combining advanced KYC (Know -Your-Client) practices with real-time FIC database checks, Mobiloan provides a fortified defense against financial crime.


TFS Listings

Targeted Financial Sanctions (TFS) are a set of financial restrictions imposed on specific individuals, entities, or countries. These sanctions are typically implemented as a response to:

  • Terrorism: Preventing the financing of terrorist activities.

  • Proliferation of weapons of mass destruction: Curbing the spread of nuclear, chemical, or biological weapons.

  • Human rights abuses: Holding accountable those responsible for gross human rights violations.

  • Other criminal activities: Targeting individuals or groups involved in organized crime, corruption, or drug trafficking.

Sanctions can impose the following characteristics :

  • Asset freezing: Financial assets of designated persons are frozen, preventing their use.

  • Trade restrictions: Bans on specific goods or services, or limitations on trade with certain countries.

  • Travel bans: Restrictions on the movement of designated individuals.


What is an RMCP and How does Mobiloan facilitate custom RMCP

A Risk Management Control Program (RMCP) is a framework designed by organizations to identify, assess, and manage risks within their operations, ensuring compliance with regulatory standards and protecting against potential fraud or losses. Mobiloan facilitates custom RMCPs by offering customizable risk ratings that align with specific RMCP requirements, integrating comprehensive features such as FICA compliance, client due diligence, and KYC reports.

This allows organizations to tailor risk assessments precisely to their needs, providing detailed classifications from LOW RISK to EXTREME HIGH RISK, and ensuring seamless incorporation of their RMCP with Mobiloan's robust risk management tools.


Enabling the FIC Integration in Mobiloan

  1. Access System Settings: Navigate to Setup >> Config in Mobiloan

  2. Locate FIC Integration Settings: Find the section dedicated to FIC integration configuration.

  3. Enable FIC Integration: Select the checkbox labeled "FIC Required" to enable FIC checks.


Accessing Client FIC Records

FIC enquiries done through Mobi loan get's stored on the client and can be accessed within the client menu


Understanding DPIP and FPPO Individuals in South Africa

DPIP - Domestic Prominent Influential Person

A DPIP refers to an individual in South Africa who holds a prominent public position or is entrusted with a high-level function in the country.

These people often have significant influence over decision-making processes and public affairs due to their positions.

Common DPIP Roles:

  • National or provincial government officials

  • Senior executives in state-owned enterprises (e.g., CEOs, directors)

  • Judges, magistrates, or other senior judicial figures

  • Senior members of political parties

  • High-ranking members of the military or law enforcement

FPPO - Foreign Prominent Public Official

An FPPO refers to an individual who holds or has held a prominent public office in a foreign country. This could be someone involved in government, international organizations, or any person linked to high-level international politics.

Common FPPO Roles:

  • Heads of state or heads of government (e.g., presidents, prime ministers)

  • Senior officials in foreign governments or international organizations

  • High-ranking military officials in foreign nations

  • Ambassadors, consular officials, or senior diplomats


FIC Pricing Tiers

Starting 01 October 2024, the following pricing and feature tiers will be in effect:

FEATURES
PREMIUM
STANDARD
BASIC

Realtime results

✅

✅

✅

Consumer bureau information

✅

✅

✅

Sanctions list verifications

900+

40

1

Politically exposed persons (PEPs) Scanning

✅

✅

❌

Adverse media reviews

✅

❌

❌

Additionally, we are soon launching Identity Verification (IDV) through Home Affairs as an optional service

For any questions, feedback, or support, feel free to reach us at support@modalityapps.com. We’re here to assist!

FIC -RMCP Configuration in Mobiloan