Know Your Customer & Exploring Ultimate Beneficial Ownership
A deep dive into how to practically implement due diligence processes and practices into your business.
Why should you attend?
The Financial Intelligence Centre Act (FICA) requires that all Accountable Institutions perform client due diligence, when onboarding clients as well as carry out ongoing due diligence with existing clients.
During this 1-hour training session we will explore the requirements of FICA and its risk-based approach to due diligence, as well as delve into the real-world steps of establishing and verifying the identity of your clients.
What you will get
Upon completion of this training you will receive a certificate of attendance for your FICA compliance file and practical tips that you can implement in your business.
An overview of the trainingThis training aims to give you guidance around the following:
- Understanding Anti-Money Laundering (AML)
- FICA Due Diligence obligations
- Taking a risk-based approach
- Key elements of Client Due Diligence:
- Identity verification
- Related Parties
- Ultimate Beneficial Owners (UBO’s)
- Domestic Prominent Influential Persons (DPIPs) and Foreign Prominent Public Officials (FPPOs)
- Establishing the source of funds
- Understanding the Nature and purpose of relationship
- Senior management sign off
- Ongoing due diligence
- Red flags of suspicion
- Reporting suspicions & tipping off
To join our open sessions (there may be others attending from other businesses):
- First 10 attendees at R395+VAT/per person
- Additional attendees at R350+VAT/per person
To book a bespoke session for just your business, at a date and time mutually agreed:
- A flat fee of R5000+VAT for up to 10 attendee’s
- Additional attendees at R250+VAT/per person