Managing FICA

Managing FICA

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Synopsis

This course covers registration (of head offices and branches) with the FIC and how changes to registration information and changes in ownership or business should be conducted.

It covers the appointments of FICA Compliance Officers and FICA Money Laundering Reporting Officers.

The course also covers a risk-based approach that is implemented by FICA and the specific risks related to money laundering, terrorist financing and proliferation financing. Risk management, risk identification and assessment as well as risk mitigation are covered.

Customer Due Diligence is discussed in detail regarding FICA and how reporting and record keeping should be conducted.

This course also covers the screening and training of employees and how reporting should take place to comply with FICA.

The course closes with FIC inspections and what the rules with regards to entry and inspection entail. The power of the inspector is covered as well as what to expect at an inspection.

Who is it aimed at

This course is designed to assist FICA Compliance Officers and Money Laundering Reporting Officers of accountable institutions and reporting institutions in understanding the Financial Intelligence Centre Act 38 of 2001 (“FICA”) (and incidental legislation) at a greater depth. While this course does not focus on a single item listed as an accountable institution in Schedule 1 to FICA, it does focus on the general application of FICA within a listed institution.

Content

Unit 1: Understanding money laundering, terrorist financing and proliferation financing

Unit 2: Regulation

Unit 3: Compliance

Unit 4: Reporting Obligations and Consequences of Non-compliance

Unit 5: Registration and Appointments

Unit 6: The Risk-based Approach

Unit 7: The Risk Management and Compliance Programme (RMCP)

Unit 8: Employees and Reporting

Unit 9: FIC Inspections

Method of Training: Online learning

Learning material will be made available on the Learning Management System (LMS).

Students will have access to interactive, online learning material developed by an industry expert which will include relevant additional resources.

Availability:

Students can register online (www.mbse.ac.za )at any time of the week (Monday to Friday).

Students will receive confirmation of registration and be allowed access to the learning material, once the required payment for the course has been made.

Course Duration:

The course can be completed in 5 hours. The student will have access to the material for twelve months.

Certification

Students will receive a Digital Certificate of Completion once the Final Assessment has been successfully completed. A pass mark of 60% is required for the Final Assessment.

overview

FEES
R1 100 (incl. Vat)

Starting Date 
All year

Method of Training
Online Learning

Course Duration
The course can be completed in 5 hours. The student will have access to the material for twelve months.

Admission Requirements
No requirements

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This course is designed to assist FICA Compliance Officers and Money Laundering Reporting Officers of accountable institutions and reporting institutions in understanding the Financial Intelligence Centre Act 38 of 2001 (“FICA”) (and incidental legislation) at a greater depth.