Fica Questions
1. All clients should be categorised into High, Medium or Low risk.
2. FICA training only applies to Representatives of FSPs.
3. Clients identified as ‘Prominent Persons’ require senior management/ key individual approval when entering into a business relationship.
4. Identity documents need to be verified against the original source.
5. The following are alternative methods of verification:
6. ‘High Risk’ clients include family members of Prominent Persons.
7. The following factors contribute to the general risk rating of clients:
8. FSPs may not establish a business relationship with:
9. Source of funds is a factor to be considered when risk- rating clients.
10. The verification method and date should be recorded and signed on the identity document by the employee that is interacting with the client, unless verification has been provided by a Commissioner of Oaths.