The Financial Intelligence Centre Act, or FICA, is South African legislation to fight financial crime. Moonstone Business School of Excellence’s courses on FICA provide clear, engaging and practical online learning.

Understanding FICA is for anyone employed by an accountable institution and involved in the facilitating, processing or overseeing of financial transactions.

Managing FICA is for Compliance Officers and Money Laundering Reporting Officers of accountable institutions and reporting institutions.

Understanding FICA

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

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

Managing FICA

Managing FICA provides delegates with a grasp of these key topics:

• Registration of head offices and branches with the FIC, and how to make changes to information
• Appointments of FICA Compliance Officers and FICA Money Laundering Reporting Officers
• FICA’s risk-based approach, including management, identification, assessment and mitigation; the specific risks related to money laundering, terrorist financing and proliferation financing
• Customer due diligence, and conducting reporting and record keeping
• Screening and training of employees, and FICA-compliant reporting
• FIC inspections, including the power of the inspector and what to expect at the inspection.

The course contains ten 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: Registration and Appointment
• Unit 6: Risk-based Approach
• Unit 7: RMCP
• Unit 8: Employees and Reporting
• Unit 9: FIC Inspection
• Unit 10: FICA in a Nutshell

Managing FICA can be completed in 7 hours, and is accredited for 9 CPD hours.

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.

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