The course will cover money laundering, terrorist financing and proliferation financing. It explains South Africa’s legislative framework to combat these financial crimes and penalties and administrative sanctions that can be imposed by the FIC. Theoretical knowledge of FICA for all staff members irrespective of whether they are a part of the transaction process within an accountable institution or not.
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- Postgraduate Diploma in Financial Planning (NQF 8)
- Advanced Certificate in Financial Planning (NQF 6)
- Occupational Certificate: Compliance Officer (NQF 6)
- Higher Certificate: Wealth Management (NQF 5)
- Higher Certificate in Short-Term Insurance (NQF 5)
- Further Education and Training (FETC): Short Term Insurance (NQF 4)
- Further Education and Training (FETC): Wealth Management (NQF 4)
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Getting to Know FICA
Synopsis
An entry level course for all staff members that need to receive training on FICA. The course will cover money laundering, terrorist financing and proliferation financing. It explains South Africa’s legislative framework to combat these financial crimes and penalties and administrative sanctions that can be imposed by the FIC. It discusses what the Risk Management Compliance Programme (RCMP) of each accountable institution should contain as well as what is regarded as an accountable institution.
The concept of being grey listed and the role of the FATF and UN are also discussed and what steps should be taken by South Africa to refrain from being bumped to the blacklist.
Different reports that should be submitted to the FIC are discussed as well as the consequences of not submitting the relevant reports to the FIC or being non-compliant.
Course outcomes
Once you have completed this course you will have an understanding of:
- What FICA is.
- Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF).
- Regulation.
- How FICA affects you.
- Risk Management and Compliance.
- Basic FICA Reporting.
- The consequences of non-compliance.
Who is it aimed at
Theoretical knowledge of FICA for all staff members irrespective of whether they are a part of the transaction process within an accountable institution or not.
Content
Video 1: What is FICA?
- Name three types of financial crimes.
- Identify the problem with financial crimes.
- Explain the need for the amendments to the FIC Act.
- Identify the requirements set out by FICA to mitigate the risk of financial crimes.
Video 2: Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF)
- Define money laundering, terrorist financing and proliferation financing.
- Explain the three steps of money laundering.
- Explain the four steps of terrorist financing.
- Identify how proliferation financing differs from terrorist financing.
Video 3: Regulation
- Outline South Africa’s legislative framework to combat financial crimes.
- Discuss the objectives of FICA.
- Identify the two supervisory bodies that assist the FIC.
- Explain how FICA imposes duties on accountable institutions.
- Identify what an accountable institution is in terms of FICA.
Video 4: How does FICA affect me
- Recognise what an RMCP is.
- Identify who needs an understanding of or training on the RMCP.
Video 5: Risk Management and Compliance
- Describe what it means to be grey listed.
- Discuss what a RMCP consists of.
Video 6: Basic FICA Reporting
- Identify the seven reports that must be sent to the FIC to combat financial crimes.
- Define a terrorist property report, cash threshold report, suspicious and unusual activity report, suspicious and unusual transaction report, terrorist financing activity report, terrorist financing transaction report and an international funds transfer report.
- Identify who should submit the reports to the FIC.
- Identify by when the reports should be submitted to the FIC.
- Explain how a report should be submitted.
Video 7: The consequences of non-compliance
- Identify the consequences of being non-compliant to FICA.
- Outline the sanctions imposed by the FIC to non-compliant institutions.
- Understand the process of monitoring for compliance.
Method of Training: Online learning
Learning material will be made available on the Learning Management System (LMS).
Students will have access to interactive, online learning material developed by an industry expert which will include relevant additional resources.
Availability:
Students can register online (www.mbse.ac.za) at any time of the week (Monday to Friday).
Students will receive confirmation of registration and be allowed access to the learning material, once the required payment for the course has been made.
Course Duration:
The course can be completed in 2 hours. The student will have access to the course for 6 months.
Certification
Students will receive a Digital Certificate of Completion once the Final Assessment has been successfully completed. A pass mark of 60% is required for the Final Assessment.
overview
FEES
R113 (incl. Vat)
Starting Date
All year
Method of Training
Online Learning
Course Duration
The course can be completed in 2 hours. The student will have access to the course for 6 months.
Admission Requirements
No requirements
SHORT COURSES
- National Credit Act
The National Credit Act No 34 of 2005 was passed by Parliament on the 10th of March 2006. It is designed to achieve a number of objectives, most of which are to benefit and protect the consumer. The aim is to introduce a single, functional system of regulation that will apply to all credit activities, thereby ensuring that all credit providers and credit consumers are treated equally.
- Getting to know FICA
The course will cover money laundering, terrorist financing and proliferation financing. It explains South Africa’s legislative framework to combat these financial crimes and penalties and administrative sanctions that can be imposed by the FIC. Theoretical knowledge of FICA for all staff members irrespective of whether they are a part of the transaction process within an accountable institution or not.
- Understanding FICA
The FICA Awareness Training is aimed at employees of accountable institutions and covers basic money-laundering and terrorist financing concepts, anti-money-laundering legislation in South Africa, the risk-based approach, and looks at the requirements for customer due diligence, reporting of certain transactions and record-keeping requirements.
- Managing FICA
This course is designed to assist FICA Compliance Officers and Money Laundering Reporting Officers of accountable institutions and reporting institutions in understanding the Financial Intelligence Centre Act 38 of 2001 (“FICA”) (and incidental legislation) at a greater depth.
- Getting to Know POPIA
Moonstone Business School of Excellence (MBSE) offers an interactive video training course for organisations to raise awareness of POPIA amongst all their employees. The course provides an overview of the purpose and application of the Protection of Personal Information Act (POPIA) as well as the eight data protection principles of POPIA. The main objective of this course is to provide an awareness for how and when POPIA should be applied to protect personal information.
- Understanding POPIA
Moonstone Business School of Excellence (MBSE) offers a three-module online training course for organisations employees’ that will be required to comply with the Protection of Personal Information Act (POPIA). The main objective of this course is to provide an understanding of why POPIA is important, what constitutes as personal information as well as when and how POPIA must be applied to protect personal information.
- Managing POPIA
Moonstone Business School of Excellence (MBSE) offers a comprehensive three-module online training course for executives or management to effectively govern the application of the Protection of Personal Information Act (POPIA) within their organisations.
- Entrepreneurship
An entrepreneur is someone who creates new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying business opportunities and assembling the necessary resources, structures and procedures to capitalize on those opportunities.
Qualifications
- Postgraduate Diploma in Financial Planning (NQF 8)
The qualification is designed to provide advanced financial planning skills, knowledge, attitudes and values in the areas of Financial Management, Asset Management, Investment Planning, Risk Management, Tax Planning, Retirement Planning, Estate Planning and Ethics in order to produce graduates to meet the growing need for financial planning professionals in SA.
- Advanced Certificate in Financial Planning (NQF 6)
The Advanced Certificate in Financial Planning (ACFP) provides the skills and knowledge required to provide holistic financial planning services to the ‘man in the street’ and prepares you for further specialised studies in financial planning. The ACFP also addresses the education requirement to obtain the FINANCIAL SERVICES ADVISOR™ (FSA™) designation awarded by the Financial Planning Institute of South Africa (FPI). Please visit: www.fpi.co.za for more information on ‘a career in financial planning’.
- Occupational Certificate: Compliance Officer (NQF 6)
Companies and organisations are required to comply with various regulations and legislative requirements. Moonstone Business School of Excellence’s Occupational Certificate: Compliance Officer (NQF level 6) qualification equips students with these expert skills, and practical experience in legal matters, compliance risk management as well as the compilation, implementation and reporting of compliance strategies.
- Higher Certificate in Wealth Management (NQF 5)
The Higher Certificate in Wealth Management (HCWM) provides an ideal entry point into the financial services industry in various roles, or to kickstart your career in financial planning. The HCWM is recognised by the Financial Services Conduct Authority for all product sub-categories of Category I FSPs, and can be used to fulfil fit and proper requirements for FAIS roles in Category I FSPs.
- Higher Certificate in Short-Term Insurance (NQF 5)
The qualification covers Short-term Insurance related learning and provides a framework for students to develop competencies that will give them insight into the short-term sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will prepare them for the industry.
- Further Education and Training (FETC): Short Term Insurance (NQF 4)
The qualification covers Short-term related learning and provides a framework for students to develop competencies that will give them insight into the Short-term insurance sub-sector. It introduces a basic understanding of the key terms, rules, concepts and principles of the fields that will ready them for the industry.
- Further Education and Training (FETC): Wealth Management (NQF 4)
The Qualification is a holistic introduction to Wealth Management and Wealth Creation. It enables intermediaries to understand the Wealth Management environment, the legislative requirements and product-related information. Our qualification is aimed at students with less than four years’ experience, newcomers to the industry, or those who have lots of experience, but would like to brush up on their product knowledge. We developed the Skills Programmes, covered in this qualification, to provide intermediaries with more options to comply with the requirements of the FAIS Act.