1. PRESENTATION TO THE PORTFOLIO COMMITTEE ON FINANCE ON THE
FINANCIAL INTELLIGENCE CENTRE BILL
23 MARCH 2001
CAPE TOWN
John Symington
President
Compliance Institute of South Africa
Karin Meyer
Operational Support Sub-Committee
Compliance Institute of South Africa

2. The Compliance Institute of South Africa
Introduction
Institute Membership
Objectives

3. Money Laundering Control: Compliance
Section 4 (e)
Compliance responsibility and authority
Good governance
Compliance function

4. Overview Importance of the FIC Bill Perspective of Compliance
Practical considerations of implementation
s 42 Self-regulation
Regulations
Supervision of compliance with the Act

5. Practical considerations of implementation
Self regulation (s 42)
money laundering programs
money laundering compliance officer: duly qualified
training and provision of guidance material
evaluation of money laundering program

6. Practical considerations of implementation
The regulations
Know your Customer
Thresholds
Record-keeping
e-Commerce
Industry specific

7. Supervision of Compliance
Testing of money laundering programs
The role of the Financial Intelligence Centre
accountability/reporting/feed-back
The role of the Advisory Council
representation

8. Thank-you

9. Questions