What You Need to Know About Terrorist Financing & Related Risks as an Accountable Institution
CPD Hours: 2
Price: R450.00
What You Need to Know About Terrorist Financing & Related Risks as an Accountable Institution
Presenters : Lettie Janse van Vuuren CA(SA)
Overview
Terrorist financing poses a significant threat to financial systems globally, with increasingly sophisticated methods being employed to fund illicit activities. As an accountable institution, it is crucial to understand the legal and regulatory frameworks designed to combat these risks.
This webinar will reference the Terrorist Financing National Risk Assessment (TF NRA 2024) and cover international standards and local legislation like the Financial Intelligence Centre Act (FICA). The discussion will also include real-world case studies that provide practical insights into how risk assessment processes can be strengthened to reduce exposure to threats.
Learning objectives
Attending this webinar will equip you with the following skills:
-
Understand the threats, vulnerabilities, and potential impact of terrorist financing on South Africa’s safety, stability, and neighbouring countries, as well as the role of targeted financial sanctions in mitigating these risks.
-
Become aware of of terrorist financing risks and the application of targeted financial sanctions to prevent these risks from materialising.
-
Know your specific responsibilities when dealing with clients who are accountable institutions and may be non-compliant with terrorist financing regulations.
-
Know your reporting obligations and the proper steps for reporting suspicious transactions to the relevant authorities, ensuring compliance with legal requirements and protecting your institution from regulatory risks.
-
Comply with the Financial Intelligence Centre Act (FICA) and stay up to date with relevant guidelines and publications issued by the FIC.
Content
The webinar will cover the following topics:
-
Introduction.
-
TF NRA 2024.
-
Terrorist Financing.
-
Terrorist Financing Risk.
-
-
Sources of Terrorist Financing.
-
Terrorist Property.
-
Obligations as an accountable institution:
-
Screening clients.
-
Terrorist Property Report.
-
Reporting suspicious & unusual transactions and behaviour.
-
-
Targeted Financial Sanctions.
-
Impact on screening your clients.
-
-
What must Accountable Institutions comply with?
-
Financial Intelligence Centre Act (FICA).
-
Guidance Notes issued by the (FIC).
-
Public Compliance Communications (PCC) issued FIC.
-
Related Webinars
Back to Basics Companies Act Series - Session 4: Being a Shareholder and Shares - Rights, obligations and responsibilities
Technical Summary: CGSO: safety checklist to use when dealing with online shopping