Cecil Kilpin | June 2017 Newsletter

By |2022-01-21T11:25:10+02:00June 14th, 2017|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Financial Intelligence Centre Amendment Bill Signed into Law Following a long delay, President Zuma finally signed the Financial Intelligence Centre Amendment Bill into law at the end of April 2017. The bill is required for South Africa to meet its international commitments with the Financial Action Task Force (FATF).The amendments to the Financial Intelligence Centre Act (FICA) 2001 are important because they allow for the Financial Intelligence Centre (FIC) to perform its watchdog role more efficiently and effectively.  The amendments enhance the FIC’s ability to generate quality financial intelligence which can then be shared with a wider range of government departments and agencies, in an effort to combat financial crimes (such as money laundering and terrorist financing).The amendments are intended to make it more difficult [...]