SA gets tough on terror funds
2005-11-02 16:10
Cape Town - Security Minister Charles Nqakula said on Wednesday South Africa was stepping up its fight against international terrorism and money laundering and mulling over new laws to crack down on offenders.
Nqakula said work was under way "to strengthen... counter measures with respect to money laundering and the funding of international terrorism", adding that 33 435 dubious financial transactions had been unearthed by banks since 2003.
"Of course, we have picked up these in South Africa and we continue to monitor the situation," said Nqakula in response to a question about whether some funding for global terrorism had emanated from South Africa.
Nqakula said proposed new crackdown measures could include a review of the Financial Intelligence Centre Act, which could be broadened to give authorities wider supervisory powers.
Moves to stop transactions
South Africa is also in talks with 14 eastern and southern African countries "for training in, and the sharing of, experience regarding the financial intelligence practices to deal with... money laundering and the funding of international terrorism".
"It is our hope the seed would have been planted during the sessions to build a solid foundation toward the establishment on the African continent of regimes to counter all financial transactions that relate to organised crime and terrorism," said Nqakula.
In August, South Africa's intelligence minister warned that al-Qaeda members were possibly trying to set up terror networks in southern Africa.