FICA Workshops - A TOTAL MAKE-OVER: 2024 – in two sessions
The FIC expect each registered Property Practitioner (Estate Agent) to be compliant according to the FATF expectations and their focus is on the property industry.
These sessions focus on practical compliance following the FIC’s changes, Greylisting and New FIC expectations.
Both are based on the following:
FIC Act 2001 - 2023 with a focus on changes in December 2022.
The FIC information sessions (Feb, March, Sept, Oct & Nov),
Directives 2, 4, 6 & 8
NEWRMCP expectations
PCCs released by the FIC this year.
FIC Centre DIRECT supervision and proof thereof to FATF
FIC’s new website
7 Compliance obligations
We have to split the information into TWO sessions due amount of information and expectations from the FIC. We present it as practical as possible because we want you to be ready and able to use all the information supplied. In both sessions, we cover the applicable forms to be used during the application of your knowledge.
Session 1 will include:
· Changes as Gazetted 31 December 2022
· Understanding of money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risks
· Screening and risk rating of all employees (Directive 8 – immediately effective)
· FPEP,DPEP & PIP – (Changes)
· Compliance Officer (appointed/trained/tasks),
· Registration& Updating at FIC (GoAML), Directives 2 & 4
· Training(initial, ongoing, new employees, evaluating & assistance)
· Risk base approach and management cycle
· Directives 6 & 8
· Intro on Due Diligence, TFS screening, Risk Management and Compliance Programme (RMCP)
Session 2 will include:
· Step-by-step on Risk Management and Compliance Programme (RMCP) changes as set out by the FIC during 2023
· Quick look at inspection readiness.
· Step-by-step on TFS screening
· Step-by-step on Customer Due Diligence (Client identification, verification)
· Due Diligence and Enhanced Due Diligence
· Beneficial Ownership - practical
· Supporting documents and methods with the necessary changes.
· Reporting (What, how, who and when)
· Recordkeeping
· Risk-based approach - practical
FICA/POPIA/PAIA/PPRA Q& A Session
"Who wants to be Compliant" - Play along and receive the evidence as required by the FIC
Covering testing of knowledge – the easy way:
ü You probably all know by now that the FIC is going "crazy" to prove that it must get off the Grey List by January 2025 with the FATF's next meeting.
ü Onei all of the requirements is that we must show that we have "tested" the employees' knowledge.
ü This is difficult to do in a real estate agency setting. That's why we put t nice "Who Wants to be Compliant" game. There are enough questions and evidence.
ü W be used as a summary for training in your offices as well and mostly covers the questions we regularly receive from you.
We will include:
· Chderstanding of canges as Gazetted 31 December 2022
· Risk Management and Compliance Programme(RMCP) changes as set out by the FIC March 2023 and the applicable forms
· Un money laundering (ML), terrorist financing (TF) and proliferation financing(PF) risks
· Screening and Customer Due Diligence (Client identification, screening of TFS list, verification)
· S risk rating of all employees (Directive 8 – immediately effective)
· Reporting
· Training
· Record keeping
· DueDiligence
· Beneficial ownership
Risk-base approach
· Reporting and threshold changes
· FPEP,DPEP & PIP – (Changes)
· Supporting documents and methods with the necessary changes
Everybody in the property industry is welcome!
A TOTAL MAKE-OVER: 2024- FICA Pack - RMCP & Forms
THE NEW FICA Pack is available through Quicket: https://www.quicket.co.za/events/243663-fica-rmcp-documents-only-for-property-practitioners-estate-agents/
The new improved RMCP and the updated forms will assist you to perform the FICA process and include proof of compliance according to the FIC and FATF expectations.
The new RMCP can be used as a training tool for your employees and as proof of the methods used. It includes all questions asked in Directive 6.
I do 1:1 consultations to help Property Practitioners Businesses to become and stay compliant.
Those PPB's that that found themselves already in the inspection process (PPRA or FICA), I would love to assist you through the process.
Please send an e-mail to koti@maxilisitng.co.za for more information.