The Financial Intelligence Centre Act, or FICA, is South African legislation to fight financial crime. The course Understanding FICA (from Moonstone Business School of Excellence) provides clear, engaging and practical online learning for anyone employed by an accountable institution and involved in the facilitating, processing or overseeing of financial transactions. This includes Key Individuals, Representatives, managers and employees

(There is another FICA course specifically for FICA Compliance Officers and Money Laundering Reporting Officers, Managing FICA, here.)

Key topics covered fully

Understanding FICA provides delegates with an overview of the provisions of FICA, and a comprehensive grasp of these key topics:

• Money laundering, terrorist financing, and proliferation financing
• Legal framework for anti-money laundering, counter-terrorist financing, and counter-proliferation financing measures
• Relations between the Financial Intelligence Centre (FIC) and supervisory bodies, as well as accountable institutions and reporting institutions
• Legal obligations of accountable and reporting institutions, including FIC registration, risk management and compliance program, customer due diligence, recordkeeping and reporting to the FIC
• Consequences of non-compliance, with obligations on accountable institutions, reporting institutions and others.

The course contains five units:

• Unit 1: Understanding money laundering, terrorist financing and proliferation financing
• Unit 2: Regulation
• Unit 3: Compliance
• Unit 4: Reporting and record-keeping
• Unit 5: FICA in a nutshell

Smooth course delivery

For both courses, delegates have access to interactive, online learning material developed by an industry expert, including engaging videos, assessments, and relevant additional resources.

Understanding FICA can be completed in 5 hours, and is accredited for 4.5 CPD hours.

On successfully finishing the final assessment, delegates will receive a Digital Certificate of Completion.