Civil society organisation Corruption Watch has written to Finance Minister Malusi Gigaba requesting clarification on the date on which the Financial Intelligence Centre (FIC) Amendment Act will be implemented. This includes the time frames for the finalisation of regulations and schedules required to support the implementation of the act. Corruption Watch expects a response by this Friday‚ June 9. In the letter it noted that President Jacob Zuma had signed the FIC Amendment Act into law on April 29. "Gigaba is responsible for determining the date on which the legislation must commence‚ but Corruption Watch is concerned that sufficient measures might not have been put into place in order for the legislation to become effective before the next review of the Financial Action Task Force (FATF)‚ and whether these deficiencies will result in SA failing to meets its FATF obligations‚" said David Lewis‚ executive director of Corruption Watch. According to the letter‚ in 2009 the Financial ...
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