Explain South African money laundering legislation and the implications for accountable institutions in transacting with clients US

This Unit Standard is intended for learners in any industry where there is a responsibility to verify the source of funds under money laundering legislation. It will be useful for Wealth Managers and employees of accountable institutions required to do client identification.

The qualifying learner is capable of:
Explaining the purpose of the various money laundering legislation applicable in South Africa.
Explaining the requirements for accountable institutions.
Explaining the recording function and how to report suspicious transactions.
Demonstrating understanding the consequences of non-compliance.