BRONWYN NORTJE: Will watchdog keep on digging for bodies and sniffing laundry?
Outgoing FIC director Murray Michell played a key role in exposing the Gupta shenanigans
The Financial Intelligence Centre (FIC) is looking for a new director. The outgoing head, Murray Michell, will be leaving after more than 15 years when his contract is complete at the end of 2017. In normal circumstances, this sort of natural progression would go relatively unnoticed, but given the FIC’s central role in the identification of financial crimes and the circumstances we as a country find ourselves in, the appointment of a new director requires the utmost scrutiny. The primary mandate of the FIC is to identify the proceeds of crime and combat money laundering and terror financing. Established in 2001, the centre plays a critical role in the economy because it acts as a nexus between the country’s business community, supervisory bodies, law enforcement agencies and prosecutors. In brief, financial institutions and business are required by law to report any suspicious transactions to the FIC when they see them.In turn, the FIC collates the information and passes it on to t...
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