What is Suspicion & How to Report it?

An overview of what suspicion is, what are some indicators of suspicious / unusual transactions and how to submit these suspicions to the FIC.

Why should you attend?

In terms of the FICA, any suspicions that an Accountable or Reporting Institution’s client is using funds from unlawful or criminal activities for purposes of money laundering or terrorist financing must be reported to the Financial Intelligence Centre (FIC).

Who should attend?

If you are unsure of what exactly counts as suspicious behaviour or you are not sure how to report suspicious behaviour/transactions then this training is for you. It is important that employees of Accountable and Reporting Institutions should be able to adequately identify, detect and report their suspicions when dealing with their clients’ transactions and activities. This training therefore aims to educate these individuals as to what suspicion is, what are some indicators of suspicious / unusual transactions and how to submit these suspicions to the FIC.

During this 1-hour training session we will explore the requirements of FICA and its guidance as to how to deal with suspicious activity and transactions. The training will include a practical demonstration of how to report a Suspicious Transaction Report (STR).

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 training

This training aims to give you guidance around the following: 
  • Understanding of what is suspicion
  • FICA STR obligations
  • What are the categories of reportable transactions under section 29(1) of the FICA
  • Indicators of Suspicious & Unusual Transactions
  • Who is obliged to report suspicious transactions or behaviour
  • A practical demonstration on how to submit a STR on goAML
  • What are the consequences of failing to report

Training Price

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 attendees
  • Additional attendees at R250+VAT/per person

Fill in your details below, we will then be in contact to book your spot

For any assistance or questions you might have regarding our training, please get in touch with us via compliance@docfox.co.za