Nurses are held accountable to the FIC for the fulfilment of specific duties in terms of FICA.

Loans against policies/products shortly after purchasing it is an example of a suspicious transaction.

FICA imposes certain duties on institutions and other persons who might be targeted for money laundering purposes.

The principal objective of the FIC is to assist in the identification of the proceeds of unlawful activities and the combating of money laundering activities.

Employees shall prove, by answering a number of questions correctly that they are capable to comply with the provisions of FICA applicable to them.

Transaction involving large cash amounts is an example of suspicious a transaction.

FICA makes tipping-off an offence.

Information regarding money laundering activities is received, stored and handed over to the appropriate authorities for further disposal.

Identification of clients and verification of information is Not a FICA obligation.

The ... has the responsibility to ensure compliance by the employees of the accountable institution with the provisions of FICA and the internal rules applicable to them.

A person found guilty of tipping-off could face a fine of up to R1 000.

A person found guilty of tipping-off could face 5 years imprisonment.

If another person is acting on behalf of a client, record must be kept of the identity of that other person.