RMCP Policy

Warner Attorneys AML Risk Management
and Compliance Programme

WARNER ATTORNEYS – AI/110401/00045

Section 42 of the Financial Intelligence Centre Act 38 of 2001

A risk scale should be tailored according to the size of the accountable institution and consideration may be given to criteria set out in international best practice. The complexity of the risk scale should reflect the size and complexity of the accountable institution and the nature and the range of products and services it offers to its clients.[1]

Accountable institutions offering a relatively homogenous range of products and services, using a limited range of delivery channels, operating in one or a few geographic location(s) or engaging with a homogenous range of clients require relatively simplistic risk scales distinguishing only between two or three risk categories.[2]

Nature of Institution: Sole Practitioner

Nature of business: General Legal Practice

Number of employees besides practitioner: 0

Size of institution: Below VAT threshold

Auditor: H.E. FOURIE CA(SA)

Chartered Accountants in Public Practice – IRBA 394 246

Telephone (011) 825-2339

Fax 825-6978

P.O. Box 4732. Germiston South. 1411

HENDRIK E. FOURIE. B.Com (Acc). B.Com (Acc) Hons. (RAU) CTA CA (SA)

hendrik@fourieandassociates.co.za/info@fourieandassociates.co.za

Risk assessment

Customer due diligence

Identifying the customer and verifying their identity

This involves collecting information about the customer, such as their name, date of birth, and address. This information can then be verified against reliable and independent sources, such as government databases.

Identifying the beneficial owner of a customer

This involves determining who ultimately owns or controls the customer. This can be done by looking at the customer’s ownership structure and identifying the individuals who have a controlling interest.

Understanding the purpose and intended nature of the business relationship

This involves understanding why the customer wants to do business with the financial institution. This can be done by asking the customer questions about their business and their financial activities.

Conducting ongoing due diligence

This involves monitoring the customer’s account activity for any suspicious or unusual transactions. This can help to identify potential money laundering or terrorist financing activity.

Record-keeping

My record-keeping policy mandates the retention of all transaction and CDD-related data for at least five years. This practice aligns with the FIC Act’s requirements and facilitates the reconstruction of transaction trails when necessary. I utilise electronic storage, cloud-based systems to ensure the integrity and accessibility of these records.

Employee training

As a sole practitioner, I recognize the importance of continuous learning and staying up to date with the latest anti-money laundering and counter-terrorist financing (AML/CTF) regulations and best practices. I am committed to ongoing self-training through:

Regular review of FIC guidance notes and publications
Participation in relevant webinars and training sessions
Independent research and study of AML/CTF trends and typologies
Annual review of this RMCP to ensure its effectiveness and relevance.

Compliance monitoring

I am committed to regularly reviewing and updating my RMCP to ensure its continued effectiveness. This includes conducting annual audits to assess my compliance with the FIC Act and identify any areas for improvement

Client Fica Forms

Natural Person
SA Registered Private Company
SA Registered Trust
Additional Forms to be used in the event that I get any of the following clients: Close Corporation, Partnership, Limited Liability Partnership, Foreign Company, Foreign Trust, SA Listed Company, Foreign Listed Company, Connected Persons, Other Legal Entity.