The FIC monitors compliance through INSPECTORS who have the power to enter the business premises of an Accountable Institution and carry out inspections to ensure that the act is being complied with.

This inspection can be carried out WITHOUT A WARRANT.

In the event that the inspector wishes to enter a private residence, a warrant is required, and this will only be issued on probable cause.

The FIC or supervisory body may issue administrative sanctions for non-compliance with the FIC Act.

Penalties can include a financial penalty not exceeding R10 MILLION for natural persons and R50 MILLLION for legal persons depending on the nature of the non-compliance.