How to FICA Your HollywoodBets Account?
Nationally, continentally and internationally Hollywoodbets is one of South Africa's top bookmakers. Commencing legal betting in 2000, this sportsbook attracts players and pundits interested in a diverse range of sports such as cricket, tennis, soccer, horse racing, Formula one, volleyball, American football, darts, boxing and so many more.
Additionally, Hollywoodbets provides online betting for lovers of virtual sports and casino games. This includes all forms of bonuses and promotions offered by the platform. But to be a part of this amazing and exciting venture, you will have to sign-up for a Hollywoodbets account and be logged in.
With that, you can place your first bet and also begin to take advantage of tips provided by the company in order to help you make the most of being their customer. However, when you strike gold in a bet and it is time for withdrawal of your winnings, there are certain documents that are required for the authorization of that transaction. This is where FICA Hollywoodbets come to play.
What Is FICA And Why Is It Necessary In Africa?
On the 1st of July, 2003, the Financial Intelligence Centre Act 38 of 2001 (FICA) came into effect. The purpose of introducing this Act is to curb financial crime. Clampdown on money laundering, tax evasion, and the financing of terrorist activities through FICA brings South Africa in line with similar laws in other countries, particularly in Africa.
It is necessary that in Africa where the news of cases of fraud through the advancement of technology and loopholes that have come with it, governments all over the continent have to protect their citizens and corporate bodies by introducing legislations that make it mandatory for anyone dealing with registered companies within their jurisdiction prove lawfully who they say they are and what they do.
FICA fights to ensure clampdown on illegal financial activities as well as keeping safe the businesses and money of the South African citizens. Financial institutions have to know with whom they are doing business by keeping track of all transactions and reporting any suspicious financial activity they might have noticed.
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