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Monthly FIC Update October

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Overview    

Remaining compliant with the Financial Intelligence Centre (FIC) is a continuous, dynamic obligation. For Accountable Institutions and accounting professionals, the landscape is shifting rapidly as new Directives, Public Compliance Communications (PCCs), and Risk and Compliance Return (RCR) deadlines are actively enforced. Failing to align your internal controls with the latest legislative amendments, customer due diligence (CDD) expectations, or Targeted Financial Sanctions (TFS) screening models exposes your practice and your clients to severe regulatory consequences. 

For the modern professional, maintaining an outdated Risk Management and Compliance Programme (RMCP) is a critical liability. This monthly compliance briefing bridges the gap between high-level legislative changes and the daily execution of your compliance workflows. Packed with real-world case studies and regulatory findings, this session is designed to translate complex FIC expectations into clear, practical compliance actions that can be implemented immediately within your firm and when advising your clients. 

Join Mél Wolmarans for a highly practical, compliance-focused monthly briefing that simplifies your reporting obligations and secures your operational compliance. 

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Learning objectives   

Attending this webinar will equip you with the following skills:  

• Identify recent FIC regulatory changes, directives, and legislative amendments affecting Schedule 1 entities and Accountable Institutions. 

• Apply risk-based Customer Due Diligence (CDD) and ultimate beneficial ownership (UBO) verification processes in line with current regulatory expectations. 

• Assess your existing Risk Management and Compliance Programme (RMCP) against the latest supervisory findings and enforcement trends. 

• Execute compliant reporting, risk profiling and Targeted Financial Sanctions (TFS) screening within your daily practice workflows. 

• Deploy a practical, monthly compliance action plan to monitor ongoing compliance, meet critical deadlines and mitigate non-compliance risks. 

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Content   

The webinar will cover the following topics:  

• Latest FIC Regulatory Developments & Amended Legislation 

  • Overview of the latest Financial Intelligence Centre regulatory updates 

  • New and amended FIC legislation, Regulations, Directives, and Notices 

  • Specific implications of recent Public Compliance Communications (PCCs) 

  • Changes directly affecting Accountable Institutions and Schedule 1 entities 

• Operationalising Customer Due Diligence & Beneficial Ownership 

  • Core mechanics of risk-based Customer Due Diligence (CDD) in 2026 

  • Verifying Ultimate Beneficial Ownership (UBO) under heightened scrutiny 

  • Practical systems for Targeted Financial Sanctions (TFS) screening 

  • Mitigating Money Laundering (ML), Terrorist Financing (TF), and Proliferation Financing (PF) risks 

• RMCP, Registration and Reporting Systems 

  • Updating your Risk Management and Compliance Programme (RMCP) for 2026 compliance 

  • FIC registration and e-reporting system developments 

  • Completing and filing Risk and Compliance Returns (RCRs) accurately 

  • Meeting critical regulatory deadlines and avoiding reporting errors 

• Enforcement Trends, Case Studies & Compliance Action Plan 

  • Latest supervisory actions, inspection trends, and common regulatory findings 

  • Real-world case studies: translating compliance failures into lessons learned 

  • How to prepare for an upcoming FIC supervisory audit 

  • Your monthly FIC compliance action plan: immediate operational priorities