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
South African ad agencies rock the Cannes Lions Festival

South African ad agencies rock the Cannes Lions Festival

Branding and Advertising Expert Andy Rice raves about ads by KFC and Duracell. However, he slams an “appalling” ad by Netcare.

Standard Bank says Competition Commission is dropping charges against some banks

Standard Bank says Competition Commission is dropping charges against some banks

The Competition Commission, however, says Standard Bank is mistaken. Bruce Whitfield interviews Commissioner Thembinkosi Bonakele.

Business Unity South Africa’s plan to deracialise the South African economy

Business Unity South Africa’s plan to deracialise the South African economy

Bruce Whitfield interviews Busa CEO Tanya Cohen about the plan for transforming the economy into an inclusive one.

Michael Mol (SA’s hunkiest, most well-known doctor) bares his soul about money

Michael Mol (SA’s hunkiest, most well-known doctor) bares his soul about money

The Money Show’s Bruce Whitfield interviews Mol about his money beliefs, hopes and fears, successes and failures.

How South Africa’s once-weak trade union movement became powerful

How South Africa’s once-weak trade union movement became powerful

Johnny Copelyn discusses his book entitled “Maverick Insider: A Struggle for Union Independence in a Time of National Liberation”.

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
Michael Mol (SA’s hunkiest, most well-known doctor) bares his soul about money

Michael Mol (SA’s hunkiest, most well-known doctor) bares his soul about money

The Money Show’s Bruce Whitfield interviews Mol about his money beliefs, hopes and fears, successes and failures.

3 best JSE investments in these recessionary times (by Truffle Asset Management)

3 best JSE investments in these recessionary times (by Truffle Asset Management)

The Money Show’s Bruce Whitfield interviews Truffle Asset Management Portfolio Manager Jonathan Du Toit.

WC Liquor Traders say new booze laws will shut small township traders down

WC Liquor Traders say new booze laws will shut small township traders down

The organisation says they were not consulted before the regulations were passed.

"If the ANC splits now it will not come into power in 2019"

"If the ANC splits now it will not come into power in 2019"

Political analyst Lukhona Mnguni takes a look at the big ANC provincial meetings that took place ahead of the national conference.

More South Africans on social grants than those earning an income

More South Africans on social grants than those earning an income

According to SAIRR researcher Gerbrandt van Heerden the number of people receiving social grants has increased by 328% since 2001.

5 facts about the new SA number plates being implemented this year

5 facts about the new SA number plates being implemented this year

No official date has been set for the roll out of SA's new number plate legislation, but here's what you need to know so long.