Financial Intelligence Centre Act (FICA)

Brought to you by ISS Compliance

General description

This course is designed to explain the Financial Intelligence Centre Act and the implications of the Act upon client relations. It is intended for individuals in any industry where there is a responsibility to verify the source of funds under the Act.

Content of course

Definitions
The purpose of the Act
Extent of the problem
Money laundering legislation in South Africa
FICA Chapter 1 of the Act – Financial Intelligence Centre (FIC)
FICA Chapter 2 of the Act – Money Laundering Advisory Council
FIC Overall Architecture
FICA Chapter 3 of the Act – Money Laundering Control Measures
Annexure: Know your client forms (individuals, companies, trusts, closed corporations and foreign companies)

Aimed at

This course is aimed at anyone needing to comply with the Financial Intelligence Centre Act.

Prerequisites

None

Objectives

By completing this practical course you will be able:

To explain the purpose of the Financial Intelligence Centre Act;
To explain the requirements of the Act in terms of knowing the client
To explain the record keeping function prescribed in the Act
To explain how to report suspicious transactions; and
To understand the consequences of non-compliance

Duration

2 hours

Assessment type

5 online assessments to complete at the end of each module

Cost

R500.00 (excl VAT)

Demo

Click here to view the demo

Technical specifications

Adobe Flash player

Available on DVD

Please request pricing

Available on Flash drive

Available with high encryption to secure the data, please request pricing