The Financial Intelligence Centre Act (FICA)

The Financial Intelligence Centre Act (FICA)

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Course Description

The FICA Course will help you prepare for your FICA exam. It also equips the employees of accountable institutions and covers basic money-laundering and terrorist financing concepts, anti-money-laundering legislation in South Africa, the risk-based approach, and looks at the requirements for customer due diligence, reporting of certain transactions and record-keeping requirements.

Recommended Course Duration - 3 weeks

Number of Lessons - 8

Course Outline

  • Lesson 0: Preparatory
  • Lesson 1: Definitions; Origins and Methods
  • Lesson 2: AML & CFT Legislation in South Africa
  • Lesson 3: Identifying and Verifying Customers
  • Lesson 4: The Risk Based Approach
  • Lesson 5: Sanctions and Screening
  • Lesson 6: Monitoring & Reporting Requirements
  • Lesson 7: Practical Application

Why study FICA?

The course deals with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT), the Financial Intelligence Centre Act, POCA and POCDATARA, risk-management and compliance programmes (RMCP), customer due diligence, cash threshold and suspicious transaction reporting, terrorist property reporting and record-keeping.

    Who can study FICA?

    •  Employees of accountable institutions i.e banks, money lenders, those in the stock Exchange
    • People employed by accountable institutions who are involved in the facilitating, processing or overseeing of financial transactions
    • Compliance officers
    • A person who carries on the business of making available a gambling activity in respect of which a license is required to be issued by the National Gambling Board or a provincial licensing authority.
    • A person who carries on the business of dealing in foreign exchange.
    • A person who carries on the business of lending money against the security of securities.
    • A practitioner who practices as defined in section 1 of the Attorneys Act 53 of 1979.

    Course Description

    The FICA Course will help you prepare for your FICA exam. It also equips the employees of accountable institutions and covers basic money-laundering and terrorist financing concepts, anti-money-laundering legislation in South Africa, the risk-based approach, and looks at the requirements for customer due diligence, reporting of certain transactions and record-keeping requirements.

    Recommended Course Duration - 3 weeks

    Number of Lessons - 8

    Course Outline

    • Lesson 0: Preparatory
    • Lesson 1: Definitions; Origins and Methods
    • Lesson 2: AML & CFT Legislation in South Africa
    • Lesson 3: Identifying and Verifying Customers
    • Lesson 4: The Risk Based Approach
    • Lesson 5: Sanctions and Screening
    • Lesson 6: Monitoring & Reporting Requirements
    • Lesson 7: Practical Application

    Why study FICA?

    The course deals with Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT), the Financial Intelligence Centre Act, POCA and POCDATARA, risk-management and compliance programmes (RMCP), customer due diligence, cash threshold and suspicious transaction reporting, terrorist property reporting and record-keeping.

      Who can study FICA?

      •  Employees of accountable institutions i.e banks, money lenders, those in the stock Exchange
      • People employed by accountable institutions who are involved in the facilitating, processing or overseeing of financial transactions
      • Compliance officers
      • A person who carries on the business of making available a gambling activity in respect of which a license is required to be issued by the National Gambling Board or a provincial licensing authority.
      • A person who carries on the business of dealing in foreign exchange.
      • A person who carries on the business of lending money against the security of securities.
      • A practitioner who practices as defined in section 1 of the Attorneys Act 53 of 1979.