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FINANCE
to reduce the risk of facilitating money laundering .
In order to combat crime , businesses should identify and assess the risk of all their customers as well as put together an RMCP that will guide all employees , in other words all employees of AIs should be trained on the anti-money laundering procedures in the business described within the RMCP and have adequate knowledge of FICA itself .
Finally it is important that businesses monitor , review and audit these processes to ensure that they are consistently being followed at all times , which is a challenging task .
This is why we recommend that businesses use software like DocFox to make sure these steps are followed correctly each and every time .
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67 JULY / AUG 2023 SA Real Estate Investor Magazine