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CGF Articles & Editorials

THE FINANCIAL INTELLIGENCE CENTRE ACT IS AMENDED: IT NOW NEEDS IMPLEMENTATION (2017-06-05)

By Terrance M. Booysen and peer reviewed by David Loxton (Partner: Dentons)

With South Africa already on precarious ground as a result of its alleged ‘state capture’; not least also the effects of South Africa being downgraded to “junk-status” by Standard and Poors and Fitch rating agencies, it was in the nick of time that President Jacob Zuma signed the Financial Intelligence Centre Amendment Act 1 of 2017 (‘the Amendment Act’) into law on 28 April 2017.