Money Laundering risks in the legal profession
An introduction to money laundering, terrorist and proliferation financing in a South African legal practitioner’s context.
Book your training
Click on your preferred date for more information and to book your training.
Why you should attend?
As a legal practitioner you are urged to ensure that you fulfil various FICA obligations as an Accountable Institution. During this session we will take a closer look at the money laundering risks associated with legal practitioners, as well as key areas that you need to address in order to be fully FICA compliant.
An Overview of the Training
- Some of the topics that will be covered include:
- Overview of money laundering and terrorist financing concepts
- Discussion and examples of predicate crimes in South Africa
- Summary of financial crime legislation in South Africa (FICA, PRECCA, POCDATARA etc.)
- 3 stages of money laundering
- Introduction to FICA
- 9 FIC Obligations
- Recent Directives 6 and 8
- Findings from the 2022/2023 FIC Annual Report
- Beneficial Ownership Register
- FIC and the Legal Practice Council (LPC)
- Exploration of key legal practice products and services with example risks, red flags and mitigation strategies:
- Fees and funds
- Client account abuse
- Escrow
- Purchase, sale and transfer of assets
- Formation of entities
- Document certification & legitimisation
- Reporting suspicions & tipping off
- The complexity of legal privilege
- Consequences of non-compliance
What you will get
Upon completion of this 1-hour training you will receive a certificate of attendance for your FICA compliance file and practical tips that you can implement in your business.
Training Costs: To join our open sessions (there may be others attending from other businesses):
R625.00 + VAT/per person
To book a bespoke session for just your business, at a date and time mutually agreed, please email kycafrica.compliance@ncino.com
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