By the end of this course, participants will be able to:

• Understand the legislative and regulatory framework governing AML, CTF, and beneficial ownership in South Africa.
• Identify and assess money laundering and terrorist financing risks at business, product, and client levels.
• Conduct customer due diligence (CDD) and enhanced due diligence (EDD) for high-risk clients, including PEPs, FPEPs, and PIPs.
• Recognize and manage risks associated with legal persons, trusts, and complex ownership structures.
• Implement procedures for screening clients against Targeted Financial Sanctions (TFS) and UN sanctions lists.
• Respond appropriately when client information is incomplete or when a match to sanctions lists occurs.
• Apply ongoing monitoring, transaction scrutiny, and reporting obligations in line with FICA and FIC directives.
  
  

• South Africa’s removal from the FATF grey list and implications
• Recent legal developments and court orders on terrorist financing
• Differences between money laundering and financing of terrorism
• Misuse of NPOs for terrorist financing
• Risk-Based Methodology

• Business Risk Assessments (BRA) and scoring
• Product and services risk assessment
• Client-level risk assessments and high-risk classifications

• Responding to risk: Simplified, Standard, and Enhanced Due Diligence
• Determining beneficial ownership for companies, trusts, and partnerships
• Special considerations for high-risk clients
• Politically Exposed Persons (PEPs) and Prominent Influential Persons (PIPs)
• Immediate family members and close associates
• Risk-based approach and enhanced due diligence requirements
• Ongoing Due Diligence and Transaction Monitoring (Section 21C)
• Inability to Conduct CDD (Section 21E)
• Targeted Financial Sanctions (TFS) and UN Sanctions Compliance (Section 26A & 26B)
  
  

• Employees of accountable institutions involved in client onboarding,
• risk assessment, transaction monitoring,
• or compliance functions