Course Overview: FICA/AML CPD Course

Money Laundering Legislation and the Implications for Accountable Institutions (FICA) is a practical Continuous Professional Development course designed to help financial services professionals understand their responsibilities under South African anti-money laundering legislation.

This course explains the purpose of FICA and related legislation, the role of accountable institutions, the importance of client identification and verification, reporting duties, record-keeping requirements, and the consequences of non-compliance. It also includes updated 2026 content covering AML, CFT and CPF requirements, beneficial ownership, targeted financial sanctions, international funds transfer reporting, POPIA considerations, cross-border financial planning, and governance updates.

Who Should Attend

This course is suitable for:

• Financial advisers and representatives
• Key Individuals and compliance officers
• FSP staff involved in client onboarding or administration
• Accountable institutions required to comply with FICA
• Professionals who need CPD hours in the financial services industry

What Learners Will Gain

By completing this course, learners will be able to:

• Understand the purpose of money laundering legislation in South Africa
• Explain the concepts of money laundering, terrorist financing and unlawful activities
• Identify accountable institutions and their duties under FICA
• Understand customer due diligence and beneficial ownership requirements
• Recognise suspicious and unusual transactions
• Understand when and how reporting duties apply
• Explain the importance of record-keeping and compliance controls
• Understand the risks and consequences of non-compliance

Course Content

The course covers five main units:

1. The purpose of money laundering legislation in South Africa
   Learners are introduced to FICA, POCA, POCDATARA and the role of the Financial Intelligence Centre.
2. Requirements for accountable institutions
   This section explains the duties placed on accountable institutions, including client due diligence, risk-based compliance and internal controls.
3. Record-keeping and reporting obligations
   Learners explore cash transaction reporting, suspicious and unusual transaction reporting, terrorist property reporting and international funds transfer reporting.
4. Consequences of non-compliance
   This unit highlights the legal, regulatory, operational and reputational risks of failing to comply with FICA requirements.
5. Impact on individuals, businesses and cross-border planning
   The final section considers how FICA affects financial planning, business controls, education, governance and cross-border matters.