Jacob Zuma says anti-corruption Fica Bill infringes on rights of powerful people

(Also read "Treasury wants to amend FICA to fight corruption - Zuma expresses reservations".)

This is just a straightforward effort to prevent criminal activity. Why would it be unconstitutional? It just enhances oversight. How can that be anything but a good thing?

Stuart Theobald, Intellidex

All the bill requires is the enhancement of procedures to flag high-risk transactions.

Steven Powell, ENS Africa

President Jacob Zuma has sent the Financial Intelligence Centre Amendment Bill (Fica Bill) back to Parliament for reconsideration.

Zuma is concerned about the constitutionality of the bill.

He has, specifically, raised concerns with the provisions relating to warrantless searches which, according to him, fall short of the constitutional standard required for the provision not to unjustifiably limit the right to privacy.

The Money Show’s Bruce Whitfield interviewed Stuart Theobald (Chairman at Intellidex) and Steven Powell (Director in Forensics at ENS Africa).

Listen to the interview in the audio below for the sceptical analysis (and/or scroll down for more quotes from it).

This will add further delays. South Africa has already fallen quite severely behind the global commitments it has to be part of the international fight against organised crime.

Stuart Theobald, Intellidex

This [delay] damages our international reputation.

Stuart Theobald, Intellidex

This legislation has already been delayed for long.

Stuart Theobald, Intellidex

It creates a new set of obligations on banks to be particularly careful when dealing with prominent people. It makes banks responsible for being much stricter about individuals at risk of being involved in corrupt activities.

Stuart Theobald, Intellidex

If the world is getting tougher on corruption it’s time for South Africa to come to the party.

Steven Powell, ENS Africa

Read More
Sibanye-Stillwater to buy Lonmin

Sibanye-Stillwater to buy Lonmin

The Money Show’s Bruce Whitfield interviews Sibanye-Stillwater Chief Executive Officer Neal Froneman.

Fund manager lays criminal charges against former Steinhoff CEO Markus Jooste

Fund manager lays criminal charges against former Steinhoff CEO Markus Jooste

The Money Show’s Bruce Whitfield interviews Benguela Global Fund Managers Chief Investment Officer Zwelakhe Mnguni.

Standard Bank SA appoints former Treasury DG Lungisa Fuzile as its new CEO

Standard Bank SA appoints former Treasury DG Lungisa Fuzile as its new CEO

South Africa’s loss is Standard Bank’s gain. The Money Show’s Bruce Whitfield interviews Standard Bank Group CEO Sim Tshabalala.

Trends that’ll dominate the business environment in 2018

Trends that’ll dominate the business environment in 2018

It’s time to start thinking about how to keep your business relevant next year, says small business guru Pavlo Phitidis.

What you must learn from the Steinhoff and EOH share price collapses

What you must learn from the Steinhoff and EOH share price collapses

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

Treasury wants to amend FICA to fight corruption (Zuma expresses reservations)

Treasury wants to amend FICA to fight corruption (Zuma expresses reservations)

Treasury wants legislation to help it keep tabs on individuals in positions of power in the public and private sectors.

Popular articles
'This puts pressure on Jacob Zuma to vacate office earlier'

'This puts pressure on Jacob Zuma to vacate office earlier'

The Money Show’s Bruce Whitfield interviews Daniel Silke, Political Economy Analyst at Political Futures Consultancy.

Judge Mlambo: Zuma's application amounts to abuse of judicial process

Judge Mlambo: Zuma's application amounts to abuse of judicial process

EWN Barry Bateman explains the High Court proceeding on President Zuma's application to set aside parts of Madonsela's report.

It's chicken for Joburgers and Durbanites, but what do Capetonians feast on?

It's chicken for Joburgers and Durbanites, but what do Capetonians feast on?

Stephen Grootes spoke to founder and CEO of OrderIn to find out more about South African's eating habits.

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

In 2012 Steinhoff acquired 20% of wealth manager PSG, reportedly infuriating Mouton. Bruce Whitfield interviews him.

[LISTEN] Caller challenges Eusebius on land disposition

[LISTEN] Caller challenges Eusebius on land disposition

‘I need you to provide me with an answer' - John from Edenvale, Gauteng