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Editorial: Fica delay raises questions

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In June, Parliament passed the Financial Intelligence Centre Amendment Bill, an important piece of legislation meant to strengthen the fight against money laundering and other illegal abuses of the banking system.

The bill, concluded after extensive public input and a comprehensive debate in the national legislature, also aims to bring South Africa in line with the requirements of the Financial Action Task Force, the global body that oversees the integrity of the financial system.

The task force ensures that the system is not abused by terrorist groups and criminal syndicates.

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