Attendance at this seminar will secure 4 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Jeanmari Van Der Schyff
0118861395
nerissa@probetatraining.co.za
The Financial Intelligence Centre Act (FICA) places a legal obligation on all Accountable Institutions to ensure their employees understand the Act and your firm’s RCMP and to report possible money laundering transactions to the compliance/reporting officer in the firm.
Make sure your employees understand their responsibilities and the process to follow to be able to comply with the Act and identify and report suspicious acts or transactions
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
