Financial Intelligence Centre Act (FICA)

Due to recent changes in the FIC Act laws, Wolf Bros Jewellers and its associated companies have had to register with the Financial Intelligence Centre (FIC), as an Authorized Institution (AI) and as a “High Value Goods Dealer” (HVG).

As trusted Jewellers established in 1902, and a member of the Jewellery Council, we remain committed to service excellence.

As an AI and HVG dealer, we now have various obligations to the FIC.

Transactions Over R5 000:

As an Authorised Institution (AI), we are required to verify the identity of any customer that purchases from us.

We may also ask to view your ID document and record a copy of it on our system.

All information on our system is secure and stored in a cloud-based environment.

This information will not be used for any marketing or shared with any third party person or company.

It is purely for our own records and allows for FIC Act compliance.

Transactions Over R100 000

Customer Due Diligence on any transaction over R100 000 is mandatory and a copy of your ID will be required. If you are purchasing in the name of a company, a Company Due Diligence will include requesting certain Company documents for our records.

Our sales consultants will gladly assist and guide you with the information that is required.

Cash Transactions

We have taken the company decision to no longer accept cash for transactions over R49 999.

Politically Connected Individuals

If you are a politician or politically connected, please mention this to our sales consultants, as it is required for our records as part of the transaction.

Confidentiality 

All information shared and held is strictly confidential and may only be shared with the FIC, if requested as per their reporting requirements. We emphasize again that personal information is not shared with any third parties, will not be used for marketing purposes and is entirely compliant with the POPI Act.

If you have any questions, comments or feedback, please email us at info@wolfbros.co.za