What is FICA?

FICA stands for the Federal Insurance Contributions Act.

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

Provided by
Ross Minnaar
Managing Director at Vizier Properties | Director at Vizier Business Consulting | Serial Entrepreneur | Adventure Enthusiast
Finance FAQ Guide