Lesson Summary

Welcome and thank you for purchasing the FICA introduction course. In this lesson, we will cover the following main topics:

• The purpose of various money laundering legislation applicable in South Africa.
• The concept of an accountable institution.
• Understanding the requirements for accountable institutions as specified in money laundering legislation.
• The recording function of an accountable institution, including how to report suspicious transactions as mandated by legislation.
• The consequences of non-compliance with legal requirements.

Let's dive into each of these critical areas to ensure that you have a comprehensive understanding of your obligations under FICA.