Don’t Get Fined: Why Unregistered Businesses Are Now in Regulators’ Crosshairs
If you’re running a small business like a law firm, real estate agency, accounting service, or NGO in Sub-Saharan Africa — and you haven’t registered as a captured entity or accountable institution— you could be on thin ice.
Regulators across the region are stepping up enforcement, and smaller Designated Non-Financial Businesses and Professions (DNFBPs) are under more pressure than ever to register and comply with anti-money laundering (AML) laws.
Put simply: registration isn’t optional — and skipping it could cost you.
The pressure is real — and growing
From South Africa to Nigeria to Kenya, Financial Intelligence Units (FIUs) are taking cues from international bodies like the FATF and regional watchdogs like GIABA and ESAAMLG. Their message is clear:
“If you’re a DNFBP and you’re not registered, you’re already in breach.”
And that breach is leading to fines, sanctions, and in some cases, businesses being shut down.
This isn’t just about big firms
A common myth is that these rules only apply to major firms. But smaller businesses are often the ones most exposed, especially when they’re operating without dedicated legal teams or structured compliance processes.
Across the region, unregistered DNFBPs — especially in sectors like real estate, accounting, law, and informal money remitters — are increasingly the targets of enforcement actions.
What registration protects you from
Registration with your country’s FIU isn’t just a formality — it’s the first legal step that enables:
Filing mandatory reports
Demonstrating your risk awareness and controls
Avoiding penalties for non-compliance
Accessing official communication and updates
Showing customers and partners that you’re serious about clean business
Real enforcement is happening — now
Here’s how this is playing out in practice:
🇳🇬 Nigeria
SCUML, under the NFIU, enforces DNFBP compliance.
🇿🇦 South Africa
The FIC has imposed sanctions on estate agents and legal professionals.
🇬🇭 Ghana
Efforts to exit the FATF grey list led to stronger DNFBP enforcement.
🇰🇪 Kenya
The FRC is tightening the noose on non-reporting DNFBPs.
🇺🇬 Uganda
The FIA is engaging directly with DNFBPs — and warning about penalties.
Coverage of FIA enforcement available via New Vision
So what should you do?
✅ Register with your country’s FIU as soon as possible
✅ Review your AML/CFT obligations — don’t wait for a warning letter
✅ Get help early — even basic compliance can prevent costly mistakes
How Anqa Can Help
At Anqa Compliance, we work with small and medium-sized firms across Africa to make compliance simpler — not scarier.
Our tools are designed to support your internal compliance officer — helping you meet obligations like recordkeeping, screening, and reporting, all from one affordable, easy-to-use platform.
No jargon. No complicated onboarding. Just clear, accessible tools that work where you work.
Final Word
Regulators are no longer giving leeway to unregistered DNFBPs — and the first step to staying safe is simple:
Register. Now.
Because the cost of doing nothing is getting higher every day.
