FICA Compliance

Financial Intelligence Centre Act (FICA) requirements for auction participation.

What is FICA?

The Financial Intelligence Centre Act (FICA) is South African legislation designed to combat money laundering and terrorist financing. As a registered auction house, Brocor Auctions is required to verify the identity of all bidders and maintain records of all transactions.

Required Documents

To comply with FICA regulations, we require the following documents from all bidders:

For Individuals
  • Valid South African ID or Passport
  • Proof of Residence (not older than 3 months)
  • Bank statement or utility bill
For Companies
  • Company Registration Documents (CM29)
  • Director's ID copies
  • Company Resolution / Letter of Authority
  • Proof of Business Address

How to Submit Documents

You can submit your FICA documents in any of the following ways:

  • Email: Send copies to fica@brocorauctions.co.za
  • Upload: Use the document upload feature in your account dashboard
  • In Person: Bring original documents to our offices for verification

Verification Process

Once you submit your documents:

  1. Our compliance team will review your documents within 24-48 hours
  2. You'll receive an email notification once your account is verified
  3. If additional information is needed, we'll contact you directly
  4. Once verified, you can register and bid on any auction
Your Data is Secure

All documents are securely stored and handled in compliance with POPIA (Protection of Personal Information Act). Your information is only used for verification purposes.

Questions about FICA requirements?

Contact Our Compliance Team