Finance Minister Malusi Gigaba is holding consultations on the regulations that will give effect to the Financial Intelligence Centre Act, the amendments to which have been signed by President Jacob Zuma. The regulations were expected to be finalised soon, Communications Minister Ayanda Dlodlo said on Thursday at a post-Cabinet media briefing, although she was not able to give a timeframe for this. Consultations were taking place within the government on the regulations, she added. Dlodlo said the Cabinet welcomed the signing of the Financial Intelligence Centre Amendment Bill into law by Zuma. "SA will be aligned to the international interventions that seek to fight money laundering and financing of terrorism," Dlodlo said. "This bill will also contribute to strengthening the transparency and integrity of the South African financial system and make it harder for criminals involved in tax evasion, money laundering and illicit financial flows to hide using South African financial sys...
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