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Money Laundering

Estimated study time: 8 – 12.5 hours

The primary focus of the Money Laundering module is to summarise the
development of anti-money laundering legislation in South Africa and outline
the requirements of this legislation in some detail. The module comprises
six topics.

The 1st topic introduces the learner to the concept of money laundering
and accountable institutions. Some of the history and various international
organisations that have been created to combat money laundering
are summarised as are South Africa’s Financial Intelligence Centre Act’s
requirements.

The regulatory environment is described in the 2nd topic, and the learner
is introduced to local money laundering legislation and the offences and
penalties that this legislation imposes, including an outline of the changes
brought in by POCDATARA.

The 3rd topic outlines the “Know Your Client” requirements, while the 4th
topic deals with an accountable organisation’s internal money laundering
policy. The final topics of this module describe the recognition and reporting
of suspicious transactions, and the various exemptions in terms of FICA.

Topics

  • Intro to Money Laundering
  • The Regulatory Environment
  • Know Your Client
  • Internal Money Laundering Policy
  • Suspicious Activity
  • Exemptions