Financial Intelligence Centre Act 38 of 2001

Amended by General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022

As an online learning platform, we are committed to complying with all applicable laws and regulations, including the Financial Intelligence Centre Act (FICA) in South Africa. FICA is designed to prevent money laundering, terrorist financing, and other illicit financial activities.

To demonstrate our compliance with the FICA Act and our commitment to responsible financial practices, we have implemented the following measures:

1. Customer Due Diligence (CDD): We have established robust procedures to verify the identity of our customers. This includes collecting and verifying relevant identification documents and other required information to ensure the legitimacy of our user base.

2. Record-Keeping: We maintain comprehensive records of customer identification, transactions, and business relationships as required by the FICA Act. These records are securely stored and made available for inspection by relevant authorities, if necessary.

3. Reporting of Suspicious Transactions: We have implemented a system to monitor and identify suspicious transactions in accordance with FICA requirements. If we come across any transactions that raise reasonable suspicions of money laundering or terrorist financing, we promptly report them to the appropriate authorities as prescribed by law.

4. Compliance Programs: We have established and maintain an effective internal compliance program to ensure adherence to the FICA Act and other relevant regulations. Our compliance program includes designated compliance officers, regular risk assessments, and ongoing training programs to keep our staff informed and vigilant regarding their responsibilities.

5. Ongoing Monitoring and Review: We continuously monitor and review our systems, policies, and procedures to ensure that they remain up to date with evolving regulatory requirements. We stay informed about any changes or updates to the FICA Act and make necessary adjustments to our compliance practices accordingly.

By adhering to the FICA Act and implementing these measures, we strive to prevent and detect any potential risks associated with money laundering, terrorist financing, and other illicit financial activities. We are committed to maintaining the integrity of our platform and ensuring the safety and trust of our customers.

FICA Act
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