The session will cover the following: • What is money laundering? • What is Financing of Terrorism? • Where Does Money Laundering Occur? • The money laundering process. • What constitutes a money laundering offence i.r.o. POCA? • Meaning of Suspicion • The Element of Knowledge • Negligent Ignorance • Penalties for Money Laundering Offences • Purpose of the Financial intelligence Centre Act and the FIC • Customer due diligence procedures for natural persons, legal persons, partnerships and trusts • Scrutinising clients against the UNCS and Targeted Financial Sanctions Lists (TFS) • Freezing of assets and implementing financial sanctions when applicable • Dealing with Domestic and Foreign Politically Exposed Persons (DPEP and FPEP • Suspicious clients • Suspicious reports • Suspicious transactions • Cash reports • Reports on Terrorist activity (POCDATARA) • Reports on bribery, extortion or fraud (PRECCA) • Who should employees report to? • When should employees report? • How should employees report? • Examples of when reports should be made • Specific requirements when making a report • Effect of confidentiality clauses • Specific reporting requirements when performing an audit, independent review or tax services • Non-compliance and penalties Please note: All employees are required to attend in person and MUST complete a post-assessment after the course.

All employees of accounting and auditing firms Duration 4 hours