The amended Financial Intelligence Center Act course is a short course detailing the new requirements imposed on accountable and reportable institutions in terms of the Financial Intelligence Centre Amendment Act 1 of 2017. The course has been updated in December 2019 to include ML/TF risk management concepts.
Time allotted for course
The course consists of 4 topics with an assessment that needs to be completed. The time allotted for each aspect is as follows:
Assessment and certification
After completion of the online workshop the learner must complete an online assessment on the Forward learning management system.
• Form of assessment: Online Multiple Choice Questions
• Number of questions: 15 questions
• Duration: 60 minutes
• Competency mark: 60%
Upon obtaining a competency mark of 60% the learning will receive the IOBSA certificate of completion. The learner will be afforded an opportunity to re-do the online workshop should a competency mark not be attained.
CPD Category: Online programme
COB Category: All Classes of Business
Financial Planning Component: Ethics and Practice Standards Advice Component: Ethics, Standards and Compliance Accreditation valid until: April 2021
CPD Points allocated: 1.5 hours | 1 point
Professional Body Approval: Institute of Bankers in South Africa (IOBSA) IOBSA Approval Number: 2020022