QuickTrade (Pty) Ltd

Administrative penalty and remediation directive. FSCA, 16 February 2026.

Record ID

za-fsca-2026-0001

Jurisdiction

South Africa

Regulator

FSCA

Type

penalty notice

Date decided

16 February 2026

Respondent type

private

Sector

financial services

Violations

AML compliance failures, customer due diligence failures

Provisions cited

FICA 2001

Outcome

administrative penalty and remediation directive

Penalty

ZAR 710,000 (≈ USD 38,000 at the decision date)

Status

final

Source

Official document ↗

Source integrity

SHA-256 a8248e8427323826…

Record verified

30 July 2026

The facts

Following an inspection under its Financial Intelligence Centre Act supervisory programme, the FSCA found QuickTrade (Pty) Ltd, a licensed financial services provider and accountable institution, in breach of the FIC Act's requirements on its Risk Management and Compliance Programme for anti-money-laundering, counter-terrorist-financing and counter-proliferation-financing, including client identification and verification, enhanced due diligence and the examination of complex or unusually large transactions, as well as cash threshold reporting obligations.

Orders and outcome

The FSCA issued a directive to remediate the identified deficiencies and imposed a financial penalty of R710 000, noting QuickTrade's commitment to remediate and strengthen its AML/CTF/CPF framework. Dated 16 February 2026.

FINANCIAL-REGULATION · AML · CUSTOMER-DUE-DILIGENCE

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