The annual 2023 AML/CFT update

  • Presenter: Anton van Wyk CA(SA)

  • Level: Advanced
  • Study time: 1 Hours
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Course overview
THE 2023 ANNUAL AML & CFT UPDATE   This three-module short course investigates the topic of anti-money laundering (AML) and the combating of the financing of terrorism (CFT).   In October 2021, the global financial watchdog Financial Action Task Force (FATF) concluded and released their Mutual Evaluation (Peer) Report on the South African AML and CFT systems and environment, creating a dim picture thereof. The FATF formally grey-listed South Africa on 24 February 2023.   The subsequent release, by the South African government, of two amendment acts, i.e., the POCDATARA and General Laws (AML & CFT) Amendment Acts, attempts to address the deficiencies identified in the Mutual Evaluation Report by the FATF. These two amendment acts became effective during the 2023 calendar year.   This short course overviews the POCDATARA Amendment Act (No. 23 of 2022) and the General Laws Amendment Act (No. 22 of 2022) and considers its importance to the registered auditor.   The intention of the short course is to also assist registered auditors with their mandatory annual reflection on developments in AML and CFT.

What's included?

  • 3 Modules
  • 3 Slide Decks
  • 3 Videos
  • 1 Certification

An overview of the state of AML/CFT/CFP in South Africa

Link with the SAICA Competency Framework

 Link with the SAICA Competency Framework

SAICA Competency Framework

Main competency group/s:

Professional values and attitudes
Enabling and future competencies
Technical competencies

Sub-competency group/s:

Lifelong learning
Digital acumen
Decision-making acumen
Strategy and governance to create sustainable value
Stewardship of capitals: business process and risk management
Assurance and related services

Specific competency/ies:

Personal ethics
Business ethics
Professional ethics
Personal citizenship
Business citizenship
Professional citizenship
Professional skepticism
Critical thinking
Governance model
Risk and asset management
New developments and protocols knowledge
Laws and regulations
Assurance engagements
Quality assurance

Patrick Jones

Content marketer, instructor, writer, influencer
Patrick Jones is a content marketing professional since 2002. He has a Masters Degree in Digital Marketing and a Bachelors in Education and has been teaching marketing strategies for over 15 years in Chicago. Patrick enjoys teaching all levels and all ages. He looks forward to sharing his love of building meaningful and effective content with all students to develop their marketing abilities.