Webinars On-Demand

Back

---

Accountants' Discussion Forum: Ethics Real Talk Session 1: Proposed Anti-Money Laundering Amendment Bill – Practical Impact, Ethics & Tripwires

---

Overview  

Anti-money laundering expectations for accountants are evolving rapidly, with proposed legislative changes placing increased ethical, professional, and practical pressure on practitioners. As accountants are increasingly viewed as gatekeepers within the financial system, the risk of inadvertent non-compliance, ethical drift, and exposure to financial crime has never been higher—particularly where client behaviour, commercial pressure, and regulatory obligations collide. 

Join Caryn Maitland as she facilitates a practical, discussion-driven session exploring the proposed Anti-Money Laundering Amendment Bill, unpacking how these changes reshape the ethical and risk landscape for accountants, highlighting common AML tripwires, and equipping participants to navigate real-world scenarios with confidence, professional judgement, and defensible decision-making 

---

Learning objectives and competencies developed 

Through real-world case studies, practical examples, and an in-depth analysis of the latest regulatory developments, this webinar will equip you with the following competencies:

• Understanding the direction and intent of the proposed Anti-Money Laundering Amendment Bill without requiring a legal deep dive 

• Identifying practical AML tripwires encountered during client onboarding, transactions, and ongoing relationships 

• Applying ethical and professional judgement where AML obligations conflict with commercial or client pressure 

• Recognising real-world scenarios where accountants may unknowingly be exposed to money laundering or terrorist financing risk. 

• Strengthening the ability to challenge, escalate, and document AML-related decisions in a defensible manner.

---

Content to be discussed 

The following topics are under discussion for this month:  

• Context: Why AML Expectations Are Shifting 
  o Financial Intelligence Centre Act, 38 of 2001 (FICA) 
  o Financial Action Task Force (FATF) recommendations 
  o South Africa’s greylisting and regulatory response 
  o Rationale behind proposed AML legislative amendments 

• Overview of the Proposed Anti-Money Laundering Amendment Bill 
  o Legislative intent and policy objectives 
  o Alignment with international AML standards 
  o Key proposed changes affecting accountable institutions 

• Accountants as Gatekeepers 
  o Accountable institutions under FICA 
  o Risk-based approach to client due diligence 
  o Beneficial ownership transparency 
  o Ongoing monitoring obligations 

• Ethical Pressure Points and AML Tripwires 
  o Client resistance to disclosure and transparency 
  o Commercial pressure versus compliance obligations 
  o “We’ve always done it this way” rationalisations 
  o High-risk clients, transactions, and jurisdictions 
  o Blurred lines between advisory support and facilitation 

• Professional Ethics and AML Judgement 
  o Application of the IFAC Code of Professional Conduct 
  o Integrity and objectivity under client pressure 
  o Professional behaviour in AML escalation decisions 
  o Ethical implications of silence or delayed action 

• Real Talk: Practical Scenarios and Group Discussion 
  o Client onboarding challenges 
  o Suspicious Transaction Reports (STRs) in practice 
  o Managing non-compliant or evasive clients 
  o Ethical decision-making in ambiguous or “grey area” cases 

• Consequences of Getting It Wrong 
  o Regulatory scrutiny and enforcement trends 
  o Professional, ethical, and reputational risk 
  o Personal accountability versus firm responsibility