Head of FIC nears end of his term
The loss of another Treasury stalwart fuels fears
The head of the Financial Intelligence Centre (FIC), which is at the heart of the fight against money laundering and the financing of terrorism, will leave at the end of 2017 and the Treasury is seeking a replacement for him. The contract of FIC director Murray Michell, who has been at the helm of the body since it was established about 14 years ago, is coming to an end. It is understood that he is retiring. The Treasury advertised the position at the weekend, giving only two weeks before the deadline for applications, which may suggest that a replacement has been identified. The real danger would be if the security cluster of agencies moved in to take over the institution at a critical time when it will be implementing higher scrutiny of prominent influential persons under the recent amendments to the FIC Act. The agencies expressed their dissatisfaction with the FIC operating outside of their systems during parliamentary hearings on the amendments earlier in 2017. Michell’s immine...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.