A regulatory framework of measures requiring certain categories of business – that is, accountable institutions – was reinforced through the Financial Intelligence Centre Act (FICA) to mitigate against these ML, TF, and PF risks. These measures include the requirement to take steps regarding customer due diligence, record-keeping, the reporting of information to the Financial Intelligence Centre (FIC), and governance through a risk-based approach. Accountable institutions’ client and employee life cycles are impacted because of the introduction of the risk-based approach introduced through FICA in 2017.

At this webinar, Francois Meintjes will guide role players in the agricultural sector through important concepts which will enable them to understand whether or not these new measures are applicable to them, and if so, enable participants to understand how their own business and client life cycle needs to be amended.

Andrea de Jongh will delve into these measures’ impact on the employee life cycle, empowering accountable institutions to address non-compliance by employees of the AML, CTF, and CPF measures.

This webinar will enable role players in the agricultural sector to assess the potential impact of FICA on their businesses as well as their workforce. After attending this webinar, you will have an understanding of:

• Whether your business falls within the definition of a “high-value goods dealer” (HVGD).
• Your FICA compliance obligations as a HVGD.
• How being a non-financial accountable institution impacts:
• clients buying “high value goods” (HVG); and
• your employees’ life cycle (understanding the additional screening requirements).
• The resources that are available to assist your business with the required due diligence.

This webinar will enable role players in the agricultural sector to assess the potential impact of FICA on their businesses as well as their workforce.