FIC powers expanded in new bill amid effort to avert greylisting
The bill, which is now before parliament, aims to strengthen SA’s regime for the combating of money laundering and financing of terrorism
29 August 2022 - 19:45
The powers of the Financial Intelligence Centre (FIC) will be considerably enhanced by a bill now before parliament, which aims to strengthen the country’s regime to combat money laundering and the financing of terrorism.
The main aim of the bill is to tighten the rules of beneficial ownership as they apply to trusts and companies, and to regulate the controllers of non-profit organisations (NPOs)...
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