CPD Amended Financial Intelligence Centre Act 21_22

R400.00

COB Category: All Classes of Business

Accreditation valid until: 25 January 2022

CPD Points allocated: 5.0 hours | points

FPI approval number: IISA EVT-20210118-0015

Course overview:  The amended Financial Intelligence Center Act course is a short course detailing the new requirements imposed on accountable and reportable institutions in terms of the Financial Intelligence Centre Amendment Act 1 of 2017.

The course has been updated in December 2019 to include ML/TF risk management concepts.

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Description

Time allotted for course

The course consists of 4 topics with an assessment that needs to be completed. The time allotted for each aspect is as follows:

Topic number Title Word count Topic level Time allotted
Topic 1 Introduction to FICA 1 754 Introductory 40 minutes
Topic 2 Main duties imposed on accountable institutions 6 361 Introductory 150 minutes
Topic 3 Measures to promote compliance by accountable institutions 1 139 Introductory 25 minutes
Topic 4 Administrative sanctions and penalties 1 653 Introductory 40 minutes
Assessment  45 minutes
Total time     5.0 hours

  

Assessment and certification

After completion of the workshop the learner must complete an electronic assessment on the learning management system.

  • Form of assessment: Multiple Choice Questions
  • Number of questions: 15 questions
  • Duration: 45 minutes
  • Competency mark: 65%

 

Upon obtaining a competency mark of 65% the learner will receive a certificate of completion. The learner will be afforded an opportunity to re-do the workshop should a competency mark not be attained.