Tag: FICA

Twin peaks Bill: Effect on SA’s financial sector

Introduction of twin peaks regulatory system & its impact on the financial services sector

S.A banks threatened by delay in money-laundering law: Financial Action Task Force

The Financial Intelligence Centre Amendment (FICA) bill, which is required for local banks to remain part of the international banking system, has still not been signed into law, although it was first passed by the country's 400-member national assembly in May 2016.

SA is heading for a crisis worse than junk status if President Zuma delays signing the FICA Bill, this is why

David Lewis, executive secretary at Paris-based Financial Action Task Force warns that South Africa risks being struck off its membership if it fails to pass the FICA Bill in time for FATF's next meeting in June.

South Africa's parliament sends FICA bill back to Zuma

The lawmakers approved an anti-money-laundering bill that will increase scrutiny of the bank accounts.
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