Introduction to FICA: A Guide for NCT Employees

Instructor

Nicole Donaldson

Reviews 4.98 (40 Reviews)

Course Overview

The NCT Forestry Agricultural Co-operative Limited FICA (Financial Intelligence Centre Act) Training Module is designed to provide employees with a clear understanding of South Africa’s anti-money laundering (AML) legislation and the importance of compliance within the organisation.

This course introduces the key principles of FICA and explains how NCT, as an accountable institution, plays a role in preventing financial crime. It covers essential topics such as the legislative framework, risk management, customer due diligence (CDD), and reporting obligations.

Employees will gain practical insight into their responsibilities in identifying, preventing, and reporting activities related to money laundering, terrorist financing, and proliferation financing.

What You'll Learn?

The NCT FICA (Financial Intelligence Centre Act) Training Module is designed to provide employees with a clear understanding of South Africa’s anti-money laundering (AML) legislation and the importance of compliance within the organisation.
This course introduces the key principles of FICA and explains how NCT, as an accountable institution, plays a role in preventing financial crime. It covers essential topics such as the legislative framework, risk management, customer due diligence (CDD), and reporting obligations.
Employees will gain practical insight into their responsibilities in identifying, preventing, and reporting activities related to money laundering, terrorist financing, and proliferation financing.

Course Content

Overview of the Module
- Welcoming Note - NCT Forestry Agricultural Co-operative Limited
- Disclaimer
- About
- Outcomes
Introduction to FICA
- What is FICA?
- What is the main purpose of the FICA?
- What risks does FICA address?
- What is the difference between FIC and FICA?
- Who must comply with FICA?
- The Consequences of Non-Compliance
- FICA Basics
Accountable Institutions and NCT's Responsibilities under FICA
- What are Accountable Institutions (AI)?
- Types of Accountable Institutions (AI)
- NCT as an Accountable Institution (AI)
- What Do Regulatory Bodies Expect from NCT?
- Accountable Institutions and NCT Responsibilities
Risk Management and Compliance Program (RMCP)
- NCT's Risk Management and Compliance Programme (RMCP)
- NCT's RMCP Implementation
- The AML Compliance Officer Role
- NCT RMCP
Risk Based Approach and Risk Identification
- NCT’s Risk-Based Approach
- NCT Risk Assessment Methodology
- NCT Potential Risk Indicators
- NCT Risk-Based Approach
Customer Due Diligence (CDD)
- Know Your Client (KYC)
- NCT KYC Documentation
- NCT Customer Onboarding
- Customer Due Diligence (CDD)
- Levels of Due Diligence
- Simplified Due Diligence
- Standard Due Diligence
- Enhanced Due Diligence
- Ongoing Due Diligence
- When Customer Due Diligence Cannot Be Completed
- Identifying the Ultimate Beneficial Owner (UBO)
- Customer Due Diligence
Employee Responsibilities and Conduct
- Employee Accountability
- NCT Employee Screening and Monitoring
- Consequences of Non-Compliance
- NCT Employee Accountability and Non-Compliance
Reporting and Suspicious Activity
- Types of FICA Reports and Reporting Timelines
- Role Players and the Reporting process
- How to Report
- Reporting and Reporting Process
Record Keeping
- NCT Record Keeping
- How must records be kept
- NCT Record Keeping
Compliance Management
- Compliance Management and Monitoring
- What does Compliance Monitoring include?
- NCT Compliance Management
In Closing
- Your Certificate

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Introduction to FICA: A Guide for NCT Employees

Nicole Donaldson

Course Overview

The NCT Forestry Agricultural Co-operative Limited FICA (Financial Intelligence Centre Act) Training Module is designed to provide employees with a clear understanding of South Africa’s anti-money laundering (AML) legislation and the importance of compliance within the organisation.

This course introduces the key principles of FICA and explains how NCT, as an accountable institution, plays a role in preventing financial crime. It covers essential topics such as the legislative framework, risk management, customer due diligence (CDD), and reporting obligations.

Employees will gain practical insight into their responsibilities in identifying, preventing, and reporting activities related to money laundering, terrorist financing, and proliferation financing.

What You'll Learn?

Course Content

Welcoming Note - NCT Forestry Agricultural Co-operative Limited

Disclaimer

About

Outcomes

What is FICA?

What is the main purpose of the FICA?

What risks does FICA address?

What is the difference between FIC and FICA?

Who must comply with FICA?

The Consequences of Non-Compliance

FICA Basics

What are Accountable Institutions (AI)?

Types of Accountable Institutions (AI)

NCT as an Accountable Institution (AI)

What Do Regulatory Bodies Expect from NCT?

Accountable Institutions and NCT Responsibilities

NCT's Risk Management and Compliance Programme (RMCP)

NCT's RMCP Implementation

The AML Compliance Officer Role

NCT RMCP

NCT’s Risk-Based Approach

NCT Risk Assessment Methodology

NCT Potential Risk Indicators

NCT Risk-Based Approach

Know Your Client (KYC)

NCT KYC Documentation

NCT Customer Onboarding

Customer Due Diligence (CDD)

Levels of Due Diligence

Simplified Due Diligence

Standard Due Diligence

Enhanced Due Diligence

Ongoing Due Diligence

When Customer Due Diligence Cannot Be Completed

Identifying the Ultimate Beneficial Owner (UBO)

Customer Due Diligence

Employee Accountability

NCT Employee Screening and Monitoring

Consequences of Non-Compliance

NCT Employee Accountability and Non-Compliance

Types of FICA Reports and Reporting Timelines

Role Players and the Reporting process

How to Report

Reporting and Reporting Process

NCT Record Keeping

How must records be kept

NCT Record Keeping

Compliance Management and Monitoring

What does Compliance Monitoring include?

NCT Compliance Management

Your Certificate

Student Feedback