If your business relies on an outdated training certificate from three years ago or an informal assumption that "staff know FICA," your institution is sitting on a compliance vulnerability. Regulators are actively issuing administrative fines and directives to firms that fail to produce a structured, ongoing training framework for their staff. Failure to provide training will cause your institution to be non-compliant and subject to an administrative sanction.

Why

Section 43 of the FIC Act mandates that every Accountable Institution (AI), including legal practitioners, estate agents, Crypto Asset Service Providers (CASPs) and wealth managers, must provide continuous training to its employees to ensure compliance with FICA and internal RMCP rules.

The FIC is no longer accepting ad-hoc or one-off onboarding sessions. As an AI, make sure of the following:

1. Continuity: A documented, active schedule for ongoing refresher training, delivered at induction and on a regular cycle thereafter.
2. Role-specific relevance: Training tiered by role and risk exposure, so client-facing and senior staff receive a deeper level of training than general support staff.
3. Verifiable proof: Date-stamped attendance registers, comprehension assessments, and training material logs, retained for as long as your RMCP requires to satisfy FIC inspections.

What

Your training framework must at least include the following four components:

1. Role-based risk content
2. Refresher cycles
3. New-hire onboarding protocol
4. Curriculum and content

How

Fulfilling Section 43 requirements manually across a growing team creates massive administrative bottlenecks. The Wakiti Training Platform automates and streamlines your FICA training lifecycle, keeping you on track:

1. CPD-accredited e-learning: Access engaging video and digital modules tailored specifically for AI’s, ranging from FICA General Awareness to Advanced AML/CFT frameworks.
2. Automated proof: Automatically generate date-stamped exam results and certificates of completion, with a full audit trail tracking completion, study time and final scores.
3. Built-in knowledge assessments: Integrated testing following each training module, with a clear pass mark and automated re-training prompts for anyone who falls short, proves to regulators that your staff haven't just watched videos, but actually comprehend Money Laundering, Terrorist Financing, Proliferation Financing, CDD, EDD, red flags and reporting triggers.
4. Onboarding and refreshers: Fully accessible on smart devices, allowing seamless onboarding for new hires and refreshers for existing staff, without taking up valuable billable hours.