Getting to know FICA

An entry level course for all staff members that need to receive training on FICA. The course will cover money laundering, terrorist financing and proliferation financing. It explains South Africa’s legislative framework to combat these financial crimes and penalties and administrative sanctions that can be imposed by the FIC. It discusses what the Risk Management Compliance Programme (RCMP) of each accountable institution should contain as well as what is regarded as an accountable institution.

The concept of being grey listed and the role of the FATF and UN are also discussed and what steps should be taken by South Africa to refrain from being bumped to the blacklist.

Different reports that should be submitted to the FIC are discussed as well as the consequences of not submitting the relevant reports to the FIC or being non-compliant.