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The Financial Intelligence Centre and the Law Society of South Africa met this week to focus on enhancing compliance of legal practitioners in terms of the Financial Intelligence Centre Act.
SPONSORED | Under the Financial Intelligence Centre Act, SA institutions step up to bolster national efforts in anti-money laundering, counter-terrorism and counter-proliferation financing
SA must tighten its money flow controls or it will remain banished to the greylist for the foreseeable future
Despite the dodgy Isis-related transactions being flagged three years ago, little action has been taken by local authorities
The FIC said work to establish the SFC unit will begin immediately, with a small core team focusing on increasing capacity.