Financial law enforcement partnership promises a crime-fighting revolution
Aim is to proactively target criminals rather than responding to prompts from banks
12 December 2019 - 19:25
The newly launched partnership between the country’s financial regulators, law enforcement agencies and a consortium of banks represents a sea change in the detection, investigation and prosecution of crime in SA.
In the past law enforcement reactively responded to potential criminal activity when suspicious transaction reports (STRs) were filed by banks and other financial institutions. The new model will entail that the Financial Intelligence Centre (FIC) proactively targets criminals. ..
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