EFF throws weight behind FIC Bill

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg - The Economic Freedom Fighters (EFF) says South Africa’s Financial Intelligence Centre (FIC) Amendment Bill is needed to fight crime and illicit flows in the country.

The bill, which was debated in Parliament this week, seeks strengthening regulations that deal with money laundering and illicit financial transactions.

The legislation further seeks bringing South Africa in line with standards set by the global Financial Action Task Force (FATF).

READ: What is the FIC Bill all about?

But progress on the bill has stalled as President Jacob Zuma in November last year referred it back to the National Assembly.

After the bill had been on his desk for several months, Zuma expressed concerns over whether the provision for warrantless searches would pass constitutional muster. 

However, following public hearings into these concerns over the bill in Parliament this week, the EFF has come out behind the FIC Amendment Bill.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.15
-0.2%
Rand - Pound
19.96
-0.2%
Rand - Euro
17.19
-0.1%
Rand - Aus dollar
11.00
-0.1%
Rand - Yen
0.13
-0.0%
Gold
1,843.76
0.0%
Silver
27.42
0.0%
Palladium
2,894.50
0.0%
Platinum
1,229.50
0.0%
Brent Crude
68.71
+2.5%
Top 40
60,573
+0.6%
All Share
66,598
+0.7%
Resource 10
69,386
-0.1%
Industrial 25
83,277
+0.9%
Financial 15
12,685
+1.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1456 votes
No, I did not.
52% - 3629 votes
My landlord refused
27% - 1927 votes
Vote