FICA - Money laundering for employees of accounting and auditing firms

Price:
R517.50 (VAT Incl.)
Level:
Auditing Professionals
Sub-level:
FICA
Lecturer:
Probeta Training
Duration:
270 Minutes
Additionals:
   CPD Assessment
   Certificate

Lesson Outline

Are you aware that your firm may be included as an Accountable Institution under the new FICA amendments?

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 constitutes a money laundering offence i.r.o. POCA?
  • Suspicious clients
  • Suspicious reports
  • Suspicious transactions
  • Cash reports
  • Reports on Terrorist activity (POCDATARA)
  • Reports on bribery, extortion or fraud (PRECCA)
  • Whom 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 a confidentiality clause
  • Tipping-off rules