M & A Anti Money Laundering / FIC Update
Presenters : Carmen Westermeyer CA(SA) , Caryn Maitland CA(SA)
Overview
This webinar will provide a comprehensive update on Anti-Money Laundering (AML) and Financial Intelligence Centre (FIC) regulations for 2024. Key topics include updates from the latest FIC Annual Report, progress on South Africa's greylisting by FATF, and the latest Public Compliance Communications (PCCs). The session will also cover sector-specific risk assessments, recent FIC case studies, and guidelines for Trust and Company Service Providers (TCSPs). These updates aim to equip professionals with the tools to enhance compliance and mitigate money laundering risks.
Learning Objectives
Attending this webinar will equip you with the following skills:
• Understand key updates from the 2022/2023 FIC Annual Report and the greylisting progress plan.
• Gain insight into the latest Public Compliance Communications and their implications for Trust and Company Service Providers.
• Acquire knowledge of the inherent money laundering and terrorist financing risks identified in sector risk assessments.
• Learn how to apply risk management and compliance programs (RMCPs) for non-financial businesses and professions.
• Understand case studies related to AML violations and how to implement best practices in compliance.
Content
The webinar will cover the following topics:
• FIC Annual Report 2022/2023 Highlights
o Key achievements and updates
o Impact on AML compliance strategies
• Greylisting and Progress Plan
o Action points and deadlines for addressing AML/CFT deficiencies
o On-site assessments and future recommendations
• Public Compliance Communications (PCC)
o PCC 6A: Guidance for Trust and Company Service Providers
o PCC 53: RMCP for non-financial businesses and professions
• Sector Risk Assessments
o Inherent risks for accountants and TCSPs
o Risk mitigation strategies for identified high-risk sectors
• FIC Case Studies and Lessons Learned
o AML violations and corrective actions
o Real-world examples of money laundering and financing of terrorism cases
