The Financial Intelligence Centre Act, or FICA, is South African legislation to fight financial crime. The course Managing FICA (from Moonstone Business School of Excellence) provides clear, engaging and practical online learning for Compliance Officers and Money Laundering Reporting Officers of accountable institutions and reporting entities.

(There is also a less specialised FICA course, Understanding FICA, for anyone employed by accountable institutions who is involved in facilitating, processing or overseeing financial transactions – here.)

Key topics covered fully

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

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.

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

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