A number of entities have become accountable institutions as a result of amendments to Schedule 1 of the Financial Intelligence Act (Fica) that came into effect on 19 December 2022.
Accountable institutions are required to register with the Financial Intelligence Centre (FIC). In addition, they must fulfil certain regulatory obligations, such as:
- Implementing customer identification and verification processes;
- Conducting customer due diligence;
- Appointing a compliance officer;
- Training employees on Fica compliance;
- Undertaking business risk assessments; and
- Maintaining and implementing a risk management and compliance programme.
If you’re uncertain about what your organisation must do to fulfil your Fica obligations, look no further than Moonstone Business School of Excellence’s updated Fica Awareness Short Course.
The short course is designed for:
- The personnel responsible for the compliance function within an organisation that is subject to Fica compliance);
- Employees of accountable and reporting institutions who are affected by Fica compliance obligations or
- Individuals seeking employment in anti-money laundering and counter financing of terrorism positions.
Click here for more information.
The Fica Awareness Short Course is one of the 100-plus courses MBSE offers to enable you to meet your CPD requirements.
The deadline to meet the minimum number of required CPD hours is 31 May 2023. To avoid a frantic rush at the end of May, FSPs, key individuals and representatives should make steady progress towards achieving the required number of CPD hours.
MBSE offers a variety of online learning courses in our four CPD categories: Regulatory Environment, Ethics, Technical and Business Skills.
With more than 100 CPD courses to choose from, and priced from as little as R53, you will find what you need with MBSE.
Click here to choose an online CPD course that suits your needs.
Click here to download MBSE’s CPD FAQs document.
Our CPD subscription packages, particularly the Premium package, are ideal for corporate FSPs that want to ensure their KIs and representatives comply with the required CPD hours.
