Study guide

Department of Auditing
Unit for Forensic Accounting

COURSE IN BASIC FINANCIAL INVESTIGATION

Last Revision: October 2022

© Copyright reserved

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A. INTRODUCTION

As economic crimes continue to increase, forensic practitioners must expand their

detection and investigative skills in order to stay ahead in this field. Internationally,
Financial Investigations has indeed been identified as a new investigative
methodology to strengthen the investigation of crime.

To effectively follow the money trail, forensic practitioners need to understand how
funds flow through the various financial systems and how to obtain relevant evidence
in a manner that will ensure its admissibility in a court of law or disciplinary hearing.

This course has been developed to enable delegates to conduct a basic financial
investigation. It will assist the students to have a basic understanding of the concept
of money, banking systems and the nature of certain trading entities. The course will
also deal with a number of basic financial investigative techniques in this regard.

LEARNING OUTCOMES

After completion of this course, delegates should be able to have sufficient knowledge
of:

 The different types of financial crimes

 How these offences should be investigated and the tools available in that regard
 Basic techniques to detect and investigate financial crimes
 The concept of money in its different manifestations
 The banking system with an emphasis on different accounts, accounting
documentation and their interpretation
 The role of asset forfeiture
 Impediments to a financial investigation and how to overcome these
impediments.

Delegates are also expected to apply the above mentioned in any given factual
scenario.

B. ORGANISATIONAL FRAMEWORK

1. COURSE CONTENT

The same course content will be offered to delegates wo taka a credit bearing short
course or a non-credit bearing short course. The assessment of the course will
however be different, as set out infra.

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2. CREDITS EARNED BY DELEGATES WHO TAKE THIS AS A SHORT COURSE

A short course can either be credit bearing or non-credit bearing. Delegates who enroll
for the Enterprises credit bearing short course could receive credits for an equivalent
module in one of the postgraduate programmes offered by the University of Pretoria’s
Unit for Forensic Accounting. The course-work dealt with in this course may therefore
bear credit for the formal Postgraduate Diploma Forensic & Investigative Accounting.
Take note that there is a restriction on the number of modules for which credits from
credit bearing short courses (such as this course) could be considered.

By completing this course on a credit bearing level, a delegate is not guaranteed

admission to the said Postgraduate Diploma Forensic & Investigative Accounting. A
selection process will be followed in this regard but the completion of one or more
credit-bearing short courses will definitely add weight to an application for admission
in that regard.

Take note that short couses, such as this course, may not bear credit for more than
50% of a Postgraduate Course. This means that a delegate can take up to three
relevant credit-bearing short courses but the other three modules must be taken as
separate modules in the said Postgraduate Diploma Forensic & Investigative
Accounting.

A short course such as this will bear credit for a period of up to three years- in other
words a delegate wishing to be credited for completing the course as a credit bearing
short course, will have to register for the Postgraduate Diploma Forensic &
Investigative Accounting within 3 (three) years after completing the said short course.

Also take note that articulation is only possible where the delegate has obtained at
least a final mark of 60% in this short course.

3. DIFFERENT LEVEL OFFERINGS

A short course can be credit bearing or non-credit bearing.

If a non-credit bearing short course is taken, a delegate should be able to

demonstrate the following:

a. Scope of knowledge: detailed knowledge of the main areas of one or more

fields, disciplines or practices, including an understanding of and the ability to apply
the key terms, concepts, facts, principles, rules and theories of that field, discipline or

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practice to unfamiliar but relevant contexts; and knowledge of an area or areas of
specialisation and how that knowledge relates to other fields, disciplines or practices.

b. Problem solving: the ability to identify, analyse and solve problems in unfamiliar
contexts, gathering evidence and applying solutions based on evidence and
procedures appropriate to the field, discipline or practice.

c. Accessing, processing and managing information: learner is able to

demonstrate the ability to evaluate different sources of information, to select
information appropriate to the task, and to apply well-developed processes of analysis,
synthesis and evaluation to that information.

d. Producing and communicating information: the ability to present and

communicate complex information reliably and coherently using appropriate academic
and professional or occupational conventions, formats and technologies for a given
context.

If a credit bearing short course is take, a delegate should be able to

demonstrate the following:

a. Scope of knowledge: able to demonstrate knowledge of and engagement in an

area at the forefront of a field, discipline or practice; an understanding of the theories,
research methodologies, methods and techniques relevant to the field, discipline or
practice; and an understanding of how to apply such knowledge in a particular context.

b. Knowledge literacy: the ability to interrogate multiple sources of knowledge in

an area of specialisation and to evaluate knowledge and processes of knowledge
production.

c. Problem solving: the ability to use a range of specialised skills to identify,

analyse and address complex or abstract problems drawing systematically on the
body of knowledge and methods appropriate to a field, discipline or practice.

d. Accessing, processing and managing information: the ability to critically review

information gathering, synthesis of data, evaluation and management processes in
specialised contexts in order to develop creative responses to problems and issues.

e. Producing and communicating information: the ability to present and

communicate academic, professional or occupational ideas and texts effectively to a
range of audiences, offering creative insights, rigorous interpretations and solutions to
problems and issues appropriate to the context.

4. ASSESSMENT

1. Delegates will be expected to complete an assignment (if the course is non-

credit bearing) and to complete an assignment and to write an examination (if the
course is credit bearing).

Assignments must be handed in in the prescribed format by 15 January 2023.

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2. Assessment on different levels:

 For a non-credit bearing short course:

The assignment will count 100% of the delegate’s final mark.

 For a credit bearing short course:

The research report will count 40% of the delegate’s final mark and a 2.5 hour open-
book online examination will take place on 15 February 2023 via the ClickUP module
page for this course. More information regarding the online exam will be
communicated via ClickUP. The exam will then count towards the other 60% of the
delegate’s final mark.

Supplementary examinations are not granted automatically. It will be granted in terms

of the policies and rules of the Department of Auditing.

Delegates registered for a credit bearing course must obtain an average of 50% for
both the assignment and the examination.

In order to pass the course / module a delegate must obtain a final mark of at least
50%. A subminimum of at least 40% must be obtained in the examination in order to
pass the module.

No supplementary examinations will be granted in order to provide a candidate the

opportunity to improve his or her mark to 60% or more in order for the course to bear
credit for the Postgraduate Diploma in Investigative & Forensic Accounting.

5. EXAMINATIONS (credit bearing courses) - Rules

For examinations, students must be at the prescribed venue 15 minutes before the
official time. You are required to carry your student card/identity document on your
person during examinations.

No student may write for longer than the prescribed time, except in cases where there
are medical reasons and a UP recommendation is presented as evidence.

Your attention is drawn to the examination instructions set out in the University Guide.
These rules will be strictly applied.

Take note also of the following amendment with regard to Examinations and Related
Matters:

“Students are responsible for providing their own sources and aids during open book
assessments, in accordance with the requirements and prescriptions set by the
lecturer concerned. Mutual exchange of such sources and aids will not be allowed”

Paragraph 10 of the Timetable, General Regulations and Student Information book

2003 (page 34) is replaced with the following stipulation:

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“Students may not act in a dishonest way with regard to any test or examination
assessment, as well as with regard to the completion and/or submission of any other
academic task or assignment. Dishonest conduct includes, among other things,
plagiarism, as well as the submission of work by a student with a view to assessment,
when the work in question is the work of somebody else either in full or in part, or
where the work is the result of collusion between the student and another person or
persons.”

It is important to note that TEAM WORK is not prohibited in terms of paragraph 10,
where group research reports are required.

6. ASSIGNMENTS / RESEARCH REPORTS:

The topics and other requirements of the respective assignments/ research reports
will be provided.

Assignments by delegates who take the course on a non-credit bearing level, must
be submitted to Enterprises University of Pretoria (EUP) in the manner prescribed by
the cover sheet attachment. These assignments should not be submitted online via
the ClickUP tool.

Delegates who take the course on a credit bearing course, must submit their
research reports electronically through the ClickUP tool created for this module on or
before the dates specified. Delegates must also ensure, by making use of the Turn-it-
in tool, that the “plagiarism”-score is within acceptable limits. As a general rule and
without limiting the UP’s anti-plagiarism policy, a Turn-it-in score of up to 13% is
usually “acceptable”.

Multiple submissions are possible in this regard- so delegates can correct their work
until the acceptable score is reached. Delegates are advised to start the submission
process early and not to wait until the last date of submission, since the process can
take time to complete and the UP/EUP staff may not be available to support delegates
who wish to submit at the last moment. Under no circumstances will the delay in
submitting the research report through the said Turn-it-in tool be viewed as an
acceptable excuse to submit the research report late.

It is also the student’s/delegate’s responsibility to confirm in ClickUP that the research

reports have been uploaded on or before the due dates. Problems and queries in this
regard must be directed to Ms Lynne van Tonder - lynne.vantonder@up.ac.za. or 012-
420 3407.

Answers must be typed in 12 font, 1.5 line spacing and the assignment/research report
should be between 12 – 18 pages;

 You are allowed to consult with each another, but the final report must reflect
your own work;
 Individuals may be asked to explain their work in person if it is not clear;
 You can make any reasonable assumptions that are necessary when preparing
the answers;

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  You must refer to the relevant pages of the prescribed material in your answer.
 A penalty of 10% of the allocated marks will be imposed on late submissions.
Assignment/Research reports will not be accepted later than three working
days after due date.
 The following personal declaration must accompany your assignment/ research
report.

I, ……………. (name), Student Number ………., hereby declare that the content of the
assignment is my own original work and that all references used in the compilation
thereof have been accurately reported.

Signed: ………………………

Date: ………………………

Additionally, the following is important information regarding the completion of

research reports by those delegates enrolled for a credit bearing course.

 You are expected to read more widely than the prescribed material. This will
include other books, articles and other information available on the Internet;

 The bibliography must be listed at the end of the research report. Please note
that where you quote from or summarise from literature, you need to refer to
that specifically, quoting pages/chapters.

 Since you are in effect on a postgraduate level you must also be able to write
academically. It is suggested that you consult textbooks such as-

Hofstee, E. Constructing a good Dissertation. EPE Publishers.2012. ISBN 0-9585007-

1-1
Maree, JG. First Steps in Journal Article Writing. Juta. 2012. ISBN 978-0-70218-915-
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It is also of utmost importance to use an established referencing method such as APA,

Harvard or the footnote method. The use of your preferred method must be consistent
and 100% correct. The UP Library website can also be consulted in this regard.

Guidelines used in the evaluation of research reports on a credit bearing level:

 40% theoretical: content, principles and frameworks in the curriculum

 30% analysis and synthesis of the theory and referenced sources
 10% layout: paragraphs, spelling, headings
 20% referencing and references: use of prescribed and other material and
method of referencing

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 7. PLAGIARISM

Students/delegates must please take note of the University’s policy regarding plagiarism
on the UP Plagiarism Prevention Web Site http://www.ais.up.ac.za/plagarism/index.htm

Please note that plagiarism includes the omission of quotation marks in partial quotes.
Quotation marks must be present even if a phrase of another author is used. All
references must be acknowledged. No references should appear in the bibliography that
is not referred to in a research report or mini-dissertation.

Plagiarism is using another person’s ideas or creative work without giving credit to that
person. It includes:

 Paraphrasing information from a source without referencing the source

 Copying and pasting internet information, graphics or media into your work
without citing the source
 Using someone else’s homework or buying papers or research and presenting it
as if you had done the work yourself by not putting quotation marks around parts
of sources you copied.

8. WHAT WILL BE TESTED

The following table may provide useful information in the understanding of research
report problems and examination questions.

Cognitive level Description of the Action verbs used to test

cognitive achievement cognitive achievement
expected
1. Knowledge Memory Name, arrange, indicate, convey,
list, describe, identify and define.
2. Comprehension Understanding, Explain, interpret, summarise,
comprehension “what do you understand …”,
derive, elucidate, illustrate.
3. Application Applying existing Calculate, determine, compile,
knowledge to an organise, treat, indicate “how would
unknown situation one in practice …”
4. Analysis Contents broken down Analyse, contrast, investigate,
into various components differentiate, compare.
5. Synthesis Link isolated Plan, develop, create, design, bring
components to form a into perspective, compile.
new meaningful entity.
6. Evaluation Drawing comparisons Indicate choice, take a stand,
based on external and judge, evaluate, criticise, and
internal criteria. motivate.

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9. Support services

Please note that details on th EMS Student Support Services are provided below.
For UP support, please download a QR code reader on your cellular phone. To download
a QR code reader open your mobile app store (App Store, Google Play or Windows
Marketplace) and search for QR code readers.

10. Safety in the evening and emergencies

 For any safety or emergency related matters, eg if you need a security officer to
accompany you, phone the Operational Management Centre (details at the back of
your student card).
 The 24-hour, multi-disciplinary UP Crisis Line offers professional and confidential
support to victims of crime in times of trauma. For assistance and immediate action,
phone the UP Crisis Line on: 0800 00 64 28.

11. E-learning support

 Report a problem you experience to the Student Help Desk on your campus.
 Visit the open labs in the Informatorium Building or IT labs on your campus to report
problems at the offices of the Student Help Desk.
 Approach the assistants at the help desks—campus specific (for example: adjacent
to the Student Computer Laboratories in IT Building, NW2, CBT or Aldoel Building IT
labs, etc).
 Call 012 420 3837.
 Email studenthelp@up.ac.za

12. Other support services

 Think carefully before

dropping modules (after
the closing date for
FLY@UP: amendments or
The Finish cancellation of modules). www.up.ac.za/fly@up
 Make responsible
Line is
choices with your time email: fly@up.ac.za
Yours and work consistently.
 Aim for a good semester
mark. Don’t rely on the
examination to pass.

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 Academic support for
students with learning
disabilities:
 Assistive technological https://www.up.ac.za/disabi
services lity-unit
 Facilitation of test and
Disability examination 012 420 2064
Unit accommodations
 Test and exam email: du@up.ac.za
concession applications
 Accessible study venues
and a computer lab
 Referrals for
recommended textbooks
in electronic format
Student Provides counselling and
Counsellin therapeutic support to 012 420 2333
g Unit students

Student Promotes and assists

012 420 5233
Health students with health and
012 420 3423
Services wellness

Provides support for UP

The
students and graduates as careerservices@up.ac.za
Careers
they prepare for their 012 420 2315
Office
careers
24-hour Operational
012 420-2310
Departmen Management Centre
012 420-2760
t of
Security 24-hour Operational
083 654 0476
Services Manager
0800 006 428
Crisis Line
Enquiries concerning
Departmen 012 420 2371/4001
studies, accommodation,
t of Student Roosmaryn Building,
food, funds, social activities
Affairs Hatfield campus
and personal problems
Centre for
Identifies and provides
Sexualities
training of student peer 012 420 4391
, AIDS and
counsellors
Gender

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 http://www.up.ac.za/enquiry
Fees and
www.up.ac.za/fees-and- 012 420 3111
funding
funding

012 420 3051

IT For student IT related
studenthelp@up.ac.za
Helpdesk queries

13. Rules of conduct for EMS students

Students in the EMS Faculty are likely move into the business world once they have
completed their studies at the University of Pretoria. As part of delivering well-rounded
students to the job market, it is important that UP students refine certain attributes that are
deemed to be part of the make-up of any successful business person. Where feasible, a
number of these attributes need to be inculcated by staff members in the departments in
the EMS Faculty, by consistently applying the same administrative and other rules when
dealing with students. As these rules of conduct are deemed to form part of leaners’
guides even though they may be handed out separately, it is assumed that all
students are aware of these and ignorance will thus not be accepted as an excuse.

CONDUCT RULES (GA = Graduate attribute expected of students in the EMS

Faculty per S4691/17)
1. Professional conduct and manners are expected when interacting with your lecturers
in person, by e-mail or by telephone. GA: Communicate constructively and sensitively
with a range of people and communities in diverse social, cultural, geographical and
workplace contexts using appropriate language (oral, written and listening) as well as
other skills
2. Professional conduct and ethical conduct are expected when liaising with outside
stakeholders related to your academic programme. GA: Have a sense of social
responsibility , respect human rights and dignity and exhibit informed awareness and
behave professionally, ethically and with integrity
3. Please respect the consulting hours of lecturers and the time of your fellow students
when consulting with lecturers on a one-on-one basis or in class. GA: Demonstrate
inter-personal skills by working collaboratively and co-operatively in several contexts
and function autonomously / independently and confidently as individuals
demonstrating initiative in overcoming life and work challenges and take responsibility
for their own decisions and development
4. All correspondence (e-mail or otherwise) with the HODs and lecturers, must be done
in an appropriate format and tone. If not, the correspondence will be returned
unanswered marked “format” or “tone”. Queries will thus not be attended to, unless
the format and/or tone of the correspondence are at an acceptable professional

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 standard. For examples of the appropriate format, refer to the formats of
correspondence included in this document. GA: Communicate constructively and
sensitively with a range of people and communities in diverse social, cultural,
geographical and workplace contexts using appropriate language (oral, written and
listening) as well as other skills

5. Students shall not be late for class, unless there is a valid reason for their being late.
Being late for a lecture indicates a lack of respect for the lecturer and fellow students.
In addition, students who have to leave a lecture period before the end of the lecture
should advise the relevant lecturer before the lecture commences that they will be
leaving early.
GA: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development
6. Students’ cell phones should be switched off and out of sight during lectures and tutor
sessions, unless these are used as part of the blended learning interventions. GA:
Have a sense of social responsibility , respect human rights and dignity and exhibit
informed awareness and behave professionally, ethically and with integrity and
interact constructively and create opportunities for shared learning

7. Students are discouraged from misusing the procedures associated with sick notes.
Nevertheless, when appropriate, they are expected to hand in a sick note application
form together with the required supporting documentation AT EACH DEPARTMENT.
The associated application form must be filled out in its entirety and if not, sick notes
will not be accepted and a zero mark will be awarded for the relevant test or
assignment. GA: Have a sense of social responsibility , respect human rights and
dignity and exhibit informed awareness and behave professionally, ethically and with
integrity

8. Sick note application forms and associated documentation must be handed in within
three working days from the date of the test that was missed. Public holidays,
Saturdays, Sundays and official university recess days during a semester are not
counted as working days. Late submissions will not be accepted and a zero mark will
be awarded for the relevant test.
GA: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development
9. To counter unethical behaviour, sick notes received will be validated by confirming
their validity with the issuing medical practitioner. If students are identified as having
submitted fraudulent sick notes, they will be handed over to the university authorities
for disciplinary action and this could lead to expulsion. GA: Have a sense of social
responsibility , respect human rights and dignity and exhibit informed awareness and
behave professionally, ethically and with integrity
10. Students are expected to consider the resubmission of tests for additional marks
carefully and are expected to fill out the associated forms in their entirety and hand
these in, accompanied by the relevant test. Questions/answer books will be remarked
in their entirety when handed in and students could consequently lose marks

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 previously awarded, when the entire question/answer book is remarked. GA:
Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development
11. Fraudulent amendments to tests and examinations will not be tolerated and students
guilty of this will be handed over to the university authorities for disciplinary action and
this could lead to expulsion or suspension of credits for a specific module. GA:
Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development and have a sense of social responsibility , respect human
rights and dignity and exhibit informed awareness and behave professionally, ethically
and with integrity
12. All tests handed in for remarking must be handed in within three working days of the
date on which the tests were handed back in class and must be accompanied by the
associated form. Public holidays, Saturdays, Sundays and official university recess
days during a semester are not counted as working days. Applications for a remark
will not be considered if handed in after the deadline specified by the lecturers. GA:
: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development
13. All assignments must be handed in on time. If not, assignments will not be marked
and students will receive a zero mark for assignments that were handed in late. GA:
: Function autonomously / independently and confidently as individuals demonstrating
initiative in overcoming life and work challenges and take responsibility for their own
decisions and development

14. Grievance procedures

All issues should be reported in writing, providing details of the complaint or issue.
Postgraduate students who experience a difficulty or wish to raise a concern or take up an
issue whilst studying at the University of Pretoria, should do so in accordance with the
following processes:

(a) Most issues or complaints can be resolved between the student and the supervisor
or course co-ordinator without further escalation. Where the issues or complaints raised are
not of a purely academic nature, the supervisor or course co-ordinator should assist the
student as far as possible by directing the student to the relevant department/division/unit
within the University that can render the appropriate assistance.
(b) As a first line of action, a postgraduate student should approach his or her supervisor
(in the case of Research Master’s or Doctoral students), or the course co-ordinator (in the
case of Honours and Coursework Master’s students). The supervisor or course coordinator
is best placed to deal with any personal or study related problem that the student may
encounter. The supervisor or course co-ordinator will be able to discuss issues of funding,
the study project and also, to direct the student to appropriate personal support services

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where necessary. (c) In instances where the problem relates to the supervision of the
student or the conduct of the supervisor or course co-ordinator, the matter should be
escalated to the Head of Department/School/Centre who will attempt to resolve the
problem.
(c) In the event that intervention at the Head of Department/School/Centre level is
unsuccessful, the matter may be escalated to the Deputy Dean: Research and Postgraduate
Studies or, in the absence of such a Deputy Dean, to the Chair of the Research Committee
of the Faculty. (e) If the matter still remains unresolved, it may be escalated to the Dean of
the Faculty.
(d) In the event that a postgraduate matter has not been resolved at Faculty level, the
student may refer the matter to the Vice-Principal: Research and Postgraduate Education,
who will attempt to resolve the matter.

(e) Only after all of the above steps have been followed and the matter remains
unresolved, the matter may be escalated to the Vice-Chancellor and Principal, whose
decision will be final.

15. Communication with students

All emails from the EMS Faculty and University of Pretoria will be sent to you at your UP
email address. It is assumed that any emails sent to this UP email address, will be read by
yourself.
You are strongly advised to check this email address at least twice a day and EMS
proposes that you do this during the course of the morning and again before the close of
business.
Announcements relating specifically to this module/course will be posted on ClickUP.
While every effort may be made to communicate with you through other available channels,
you are deemed to have read any announcements posted on ClickUP.

It is also strongly advised that you check ClickUP at least twice a day and EMS proposes
that you do this during the course of the morning and again before the close of business.

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16. GENERAL ENQUIRIES

Enterprises University Pretoria

Ms. Janine Scheepers
Tel: +27 12 434 2579
E mail: janine.scheepers@enterprises.up.ac.za

DEPARTMENT AUDITING
Ms. Lynne van Tonder
Room 4-74 EMS
Tel +27 12 420 3407
Email:lynne.vantonder@up.ac.za

COURSE CONTENT ENQUIRIES

Adv Hannes Bezuidenhout
Room 4-75 EMS
Tel: +27 12 420 3802
Email: hannes.bezuidenhout@up.ac.za

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C. COURSE WORK

C.1 LEARNING OUTCOMES:

Depending on the applicable course level, delegates should, upon completion of this
course, have sufficient knowledge in respect of the following issues, and be able to
apply the knowledge to a given scenario -where applicable:

1. International instruments and efforts dealing with the investigation of financial

crime.
2. Selected Financial Crime Schemes and why do people commit these crimes.
3. Types of legal entities and how these entities can be abused by criminals.
4. Basic Accounting issues which can play a role in the investigation of these crimes
5. Financial Statement Fraud and the investigation thereof.
6. Sources of information for the financial investigator (Information to be obtained
from financial records, Background Investigations and Internet Sources)
7. Establishing hidden sources of income.
8. Data-mining as an investigative technique.
9. Legal impediments to a financial investigation.
10. The procurement of financial information/evidence.
11. The role of asset forfeiture in the investigation of financial crime.
12. Banking secrecy

C.2. STUDY MATERIAL

The prescribed reading materials are those under the Heading “Prescribed” -this
material should be studied by all delegates/students contemplating the completion of
this course on a non-credit bearing or credit bearing level. These materials are
contained in hardcopy format in your file. Take note that any additional material
handed out in the course of the contact session or emailed to you thereafter will also
form part of your prescribed material.

Delegates enrolled for a credit bearing course, must also access the web-sources
under the heading “Web-sources”. These web-sources form part of the prescribed
material for delegates who wish to complete the course on a credit bearing level. It
is however strongly recommended that delegates enrolled for a non-credit bearing
course, also consult these sources in order to gain a more in-depth understanding of
the relevant issues- by doing so delegates enrolled for a non-credit bearing course
may gain bonus marks when completing the assignment.

Where applicable, additional reading has also been included under the respective
topics to enhance your learning experience. These “Additional” sources do not form
part of your prescribed material but may enhance your knowledge and understanding
of money-laundering issues. It is recommended that you consult these resources but
you will not be evaluated on these sources:

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The following is a general guideline as to the general applicability of the prescribed
material to the relevant topic. Some, if not most, of the material is relevant to other
topics as well.

General (applicable to all topics)

Prescribed

Brown, R. Reaching the parts other investigations cannot reach. Securing convictions
for organised crime through financial investigation. Journal of Financial Crime Vol. 20
No. 3, 2013pp. 259-266

Web sources

 FATF. Operational issues - financial investigations guidance

http://www.fatf-
gafi.org/media/fatf/documents/reports/Operational%20Issues_Financial%20inv
estigations%20Guidance.pdf

 US Financial Investigation Guidelines

http://www.justice.gov/criminal/afmls/pubs/pdf/fininvguide.pdf

 UK Home Office. Exploring the Role of the Financial Investigator Report. Nov
2018

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/at
tachment_data/file/753212/exploring-the-role-of-the-financial-investigator-
report-horr104.pdf

 International Centre for Asset Recovery. Tracing Illegal Assets - A Practitioner’s

Guide

https://www.baselgovernance.org/sites/default/files/2019-
01/tracing_illegal_assets_EN.pdf

 STAR Initiative.Taxing Crime A Whole-of-Government Approach to Fighting

Corruption, Money Laundering, and Tax Crimes Jean-Pierre Brun, Ana
Cebreiro Gomez, Rita Julien, Joy Waruguru Ndubai, Jeffrey Owens, Siddhesh
Rao, and Yara Esquivel Soto S

https://star.worldbank.org/sites/default/files/2022-06/Taxing%20Crime_0.pdf

 FATF. Mutual Evaluation Report. Zambia. 2019

https://www.fatf-gafi.org/media/fatf/documents/reports/mer-fsrb/ESAAMLG-
MER-Zambia-June%202019.pdf

17
Topic 1 Introduction

Additional source

Wolfe & Hermanson. The Fraud Diamond: considering the 4 elements of fraud.

http://wweb.uta.edu/faculty/subraman/EMBA-
FTW2009/Articles/Fraud%20Diamond%20Four%20Elements.CPAJ2004.pdf

Topic 2 Financial Crime Schemes

Web sources

 FIC Typologies2018
https://www.fic.gov.za/Documents/FIC%20Typologies%20final%20-
%20issued%2031.5.2018.pdf

 Laundering the proceeds of corruption

http://www.fatf-
gafi.org/media/fatf/documents/reports/Laundering%20the%20Proceeds%20of%
20Corruption.pdf

 ZAMBIA. Trends Report 2021

https://www.fic.gov.zm/79-fic-news/115-trends-report-2021

Topic 3 Types of legal entities

Prescribed

 The Companies Act no71 of 2008 (selected sections)

Web sources

 FATF. THE MISUSE OF CORPORATE VEHICLES, INCLUDING TRUST AND

COMPANY SERVICE PROVIDERS

http://www.fatf-
gafi.org/media/fatf/documents/reports/Misuse%20of%20Corporate%20Vehicles
%20including%20Trusts%20and%20Company%20Services%20Providers.pdf

18
Additional source

 Stolen Asset Recovery Initiative World Bank & UNODC The Puppetmasters -
How the Corrupt Use Legal Structures to Hide Stolen Assets and What to Do
About It

https://star.worldbank.org/star/sites/star/files/puppetmastersv1.pdf

Topic 4 Basic Accounting Issues

Web source

 US SEC Beginners guide to fin statement.

https://www.sec.gov/reportspubs/investor-
publications/investorpubsbegfinstmtguidehtm.html

Additional sources

 Mastercard. A Simple Guide to Your Company’s Financial Statements.

https://www.mastercardbiz.com/content/uploads/2013/01/MasterCard_FinancialStatem
ents_NewGround_Jan2013.pdf

 Accounting Principles.
http://www.free-management-ebooks.com/dldebk-pdf/fme-accounting-
principles.pdf

 How to read a Balance Statement

http://www.free-management-ebooks.com/dldebk-pdf/fme-balance-sheet.pdf

 Understanding Income Statements

http://www.free-management-ebooks.com/dldebk-pdf/fme-income-
statements.pdf

 Merril Lynch. How to read a Financial Report (52pp)

http://e145.stanford.edu/upload/Merrill_Lynch.pdf

19
Topic 5 Financial Statement Fraud

Prescribed

 Coenen, T.L. Expert Fraud Investigation. A step –by-step Guide. Wiley.

Chapter 8 p133-152.

 Wells, J.T Principles of Fraud Examination 4th Ed. Wiley

Chapter 12 p 301-348

 Schnatterly & Gangloff CEO Wrongdoing: A Review of Pressure,Opportunity,

and Rationalization. Journal of Management Vol. 44 No. 6, July 2018 2405–
2432.

Web source

 ACFE HOW TO DETECT AND PREVENT FINANCIAL STATEMENT FRAUD

https://www.acfe.com/-
/media/files/acfe/pdfs/chapter/howtodetectandpreventfinancialstatementfraud20
19_chapter-excerpt.ashx

Topic 6 Sources of information

Prescribed

 Coenen, T.L. Expert Fraud Investigation. A step –by-step Guide. Wiley

Chapter 5 p73-92

6.1 Interviewing,Taking of affidavits & Report writing

a) Legal requirements

Prescribed

 Justices of the Peace and Commissioners of Oaths Act 16 of 1963.

 Regulations governing the Administering of an Oath or Affirmation, 1972.

Web source

 NDPP v Ndolose 2014 (2) SACR 633 (ECM)

http://www.saflii.org/za/cases/ZAECMHC/2014/16.html

20
b) Building Rapport

Web sources

Hudson, J. Three areas to build rapport.

https://www.acfeinsights.com/acfe-insights/three-areas-of-focus-to-build-rapport-
with-an-interview-subject.

c) Signs of deception

Web sources

 Matsumoto,D, Hwang,H, Skinner,L & Frank,M. Evaluating Truthfulness and

Detecting Deception. June 2011 FBI Law Enforcement Bulletin. Pp1-13

http://davidmatsumoto.com/content/Evaluating%20Truthfulness%20and%20Det
ecting%20Deception.pdf

d) Taking of statements & Report writing

Web sources

 S v Agliotti 2011 (2) SACR 437 (GSJ)

http://www.saflii.org.za/za/cases/ZAGPJHC/2010/129.html

 Leigh Ellis > preparing your witness statement for court

https://hallellis.co.uk/preparing-witness-statements/

 I-sight. The ultimate guide to writing investigation reports

https://i-sight.com/resources/ultimate-guide-to-writing-investigation-reports/

21
6.2 Information to be obtained from financial records

Web sources

 Jordaan, J.J THE ANALYSIS OF BANK ACCOUNT STATEMENTS TO

ESTABLISH EVIDENCE OF ILLICIT FINANCIAL ACTIVITY.

http://uir.unisa.ac.za/bitstream/handle/10500/1317/dissertation.pdf?sequence=
1

 Stout. Follow the Tokens Money Laundering, Asset Tracing, &

Cryptocurrencies

https://www.stout.com/en/insights/article/follow-tokens-money-laundering-
asset-tracing-cryptocurrencies/

 Forbes.Can Benford’s Law Detect Tax Fraud?

https://www.forbes.com/sites/taxnotes/2021/08/19/can-benfords-law-detect-tax-
fraud/?sh=1f501cd74d70

6.3 Background Investigations

Prescribed

Golden & Skalak. A Guide to Forensic Accounting Investigation. Wiley.

Chapter 17 p 331-342

6.4 Internet Sources

Prescribed

Golden & Skalak. A Guide to Forensic Accounting Investigation. Wiley.

Chapter 17. p 342-347

6.5 Using technology to detect fraud

 OECD. Technology Tools to Tackle Tax Evasion and Tax Fraud

https://www.oecd.org/tax/crime/technology-tools-to-tackle-tax-evasion-and-tax-
fraud.pdf
 IIA. Analytics to fight tax fraud.
https://www.sas.com/content/dam/SAS/en_us/doc/research2/iia-analytics-to-
fight-tax-fraud-108220.pdf

22
6.6 Entrapment

Prescribed

 Hand-out (Bezuidenhout)

 Criminal Procedure Act 51 of 1977. Sec 252A

http://www.justice.gov.za/legislation/acts/1996-085.pdf

Web sources

 S v Dube 2000 1 SACR 53 (N)

http://www.saflii.org/za/cases/ZASCA/2009/28.html

 Cape Town City Council v SAMWU 2000 (11) BLLR 1239 (LC) pp: 1-7, pp: 8-14,
pp: 15-22

http://www.saflii.org/za/cases/ZALC/recent.html

 S v Lachman 2010 (2) SACR 52 (SCA)

http://www.saflii.org/za/cases/ZASCA/2010/14.html

Topic 7 Establishing hidden sources of income: Net-worth /Expenditure

Techniques

Prescribed

Manning, G.A. Financial Investigation & Forensic Accounting 3rd Ed. CRC Press
p81-134; 149-161

Web source

 ACFE. Tracing hidden sources of income

https://www.fraud-magazine.com/uploadedFiles/Shared_Content/Products/Self-
Study_CPE/Making%20Crime%20Pay_2014_Excerpt.pdf

23
Topic 8 Data-mining as an investigative technique

Prescribed

 Kranacker, M.J Riley, R.A & Wells., J.T. Forensic Accounting and Fraud
Examination. Chapter 10 Using IT for fraud examination and financial forensics.
pp264-292

 Golden & Skalak. A Guide to Forensic Accounting Investigation. Wiley.

Chapter 20 p 385-422

Web sources

 Nhien An Le Khac, Sammer Markos, M. O'Neill, A. Brabazon and M-Tahar

Kechadi. An investigation into Data Mining approaches for Anti Money
Laundering

http://www.ipcsit.com/vol2/94-C140.pdf

 Cory R, Watkins K, .Reynolds M, ,Demara R, Georgiopoulos M, Gonzalez A &

Eaglin, R. Tracking dirty proceeds: Exploring data mining technologies as tools
to investigate money laundering. Police Practice and Research: An
International Journal Volume 4, Issue 2, 2003.

http://www.tandfonline.com/doi/pdf/10.1080/15614260308020

Topic 9 Legal impediments to a financial investigation

Prescribed

 Hand-out: Privilege

Web source

The use of legal professionals:

 Money laundering and terrorist financing vulnerabilities of legal professionals

http://www.fatf-
gafi.org/media/fatf/documents/reports/ML%20and%20TF%20vulnerabilities%20
legal%20professionals.pdf

Additional source

 Hamman, A & Koen, R.A. Cave pecuniam: Lawyers as launderers PER 2012
Vol 15 no. 5.

24
 http://www.nwu.ac.za/sites/www.nwu.ac.za/files/files/p-
per/issuepages/2012volume15no5/2012%2815%295HammanandKoen.pdf

Topic 10 Legal issues relevant in procuring financial transaction information

Prescribed

Selected sections provided as hand-outs.

S205 of Act 51 of 1977

S212 of Act 51 of 1977
S236 of Act 51 of 1977

S221 of Act 51 of 1977

The Law of Evidence Amendment Act no.45 of 1988

The Electronic Communications and Transactions Act no.25 of 2002
The Prevention and Combating of Corrupt Activities Act no.12 of 2004.

Web source

ZAMBIA:

 Anti Corruption Act, 2010

 FIC Amendment Act 4 of 2016
 Financial Intelligence Centre Amendment Act 16 of 2020
 Financial Intelligence Centre Act,2010
 Prohibition and Prevention of Money Laundering Act,2001

All available at:

https://www.fic.gov.zm/legislation

Topic 11 The Forfeiture of Assets

Prescribed

 Hand-out. The Asset Forfeiture provisions contained in the POCA

Web sources

 ZAMBIA: Forfeiture of Proceeds of Crime Act

https://zambialaws.com/principal-legislation/forfeiture-of-proceeds-of-crime-act

 UNODC. STAR. World Bank. Asset Recovery Handbook

25
 https://www.unodc.org/documents/corruption/Publications/StAR/StAR_Publication_-
_Asset_Recovery_Handbook.pdf

 Ntsoko V National Director Of Public Prosecutions (A737/13) [2015] ZAGPPHC

218

http://www.saflii.org/za/cases/ZAGPPHC/2015/218.html
or 2016 (1) SACR 103 (GP)

 National Director of Public Prosecutions v Ramlutchman (SCA)

http://www.saflii.org/za/cases/ZASCA/2016/202.html

 National Director of Public Prosecutions v Five Star Import and Export (Pty) Ltd
(17837/17) [2018] ZAWCHC 107; 2018 (2) SACR 513 (WCC)

http://www.saflii.info/za/cases/ZAWCHC/2018/107.pdf

 NDPP v Cunningham 2012 (2) SACR 591 (WCC)

http://www.saflii.org/za/cases/ZAWCHC/2012/68.html

 Casella, S The enforcement of foreign restraining orders.

http://works.bepress.com/cgi/viewcontent.cgi?article=1034&context=stefan_cas
sella

 S v Shaik and Others (CCT 86/07) [2008] ZACC 7; 2008 (5) SA 354 (CC) ;
2008 (2) SACR 165 (CC) ; 2008 (8) BCLR 834 (CC) (29 May2008)

http://www.saflii.org/za/cases/ZACC/2008/7.pdf

 Falk v NDPP 2011 (JOL) 27610 (CC)

http://www.saflii.org/za/cases/ZACC/2011/26.html

Topic 12 Banking Secrecy Issues

Additional source

 Young, M.E. The exploitation of offshore financial centers. Banking confidentiality

and money laundering. 2013 Journal of Money Laundering Control Vol16.No.3
pp198-208

26