Justice Minister Masutha advocates for the revival of FICA advisory council

Justice Minister Michael Masutha says he is hoping to get into talks with Finance Minister Malusi Gigaba about the revival of the anti-money laundering council that was scrapped when the Financial Intelligence Centre Bill was amended.

The FIC Amendment Bill was signed by President Jacob Zuma last month but it has yet to be promulgated by Gigaba.

Masutha elaborated on the functions of this council and its objectives.

Its function has always been to exercise oversight from the Financial Intelligence Centre and playing a governance role in terms of holding state accountable.

Michael Masutha, Minister of Justice

Masutha says the council will provide capacity to effectively deal with issues of money laundering, terror financing and stamping out illicit capital finance.

According to Masutha, this council was never convened for the last 15 years and this shows that there has been a case of non compliance with legislation.

We are saying we aren't complete in putting together the machinery as originally conceived...

Michael Masutha, Minister of Justice

To hear more from Justice Minister, listen below:

[Watch] Justice Minister Michael Masutha speak to CapeTalk's Koketso Sachane below:


Recommended

by NEWSROOM AI
Read More
Opinion: New SABC board must restore public broadcaster mandate - Xolani Gwala

Opinion: New SABC board must restore public broadcaster mandate - Xolani Gwala

Allegations have emerged that the State Security Agency spied on SABC journalists without court permission.

SA gears up to celebrate the historic signing of "model Constitution"

SA gears up to celebrate the historic signing of "model Constitution"

South Africa's constitution was signed on December 10, 1996 in Sharpville.

What constitutes hate speech?

What constitutes hate speech?

Minister Masutha announced proposed bill to help combat hate speech and Prof Jane Duncan explains what hate speech involves.

SA's decision to withdraw from ICC comes 4 weeks before al Bashir court case

SA's decision to withdraw from ICC comes 4 weeks before al Bashir court case

The Rome Statute is a hindrance for the country to engage in international relations, says Masutha.

Mobile gaming app Pokémon Go cashing in on global success

Mobile gaming app Pokémon Go cashing in on global success

The app is a GPS-based game which uses a cellphone camera to catch virtual Pokémon characters that appear in one's surroundings.

Draft bill on racism set to criminalise hate speech

Draft bill on racism set to criminalise hate speech

New provisions will be introduced in a bill to stop people from spewing racism, hate speech and deliberately offensive remarks.

Popular articles
Vila Kasi TV station leaves employees out in the cold with no pay

Vila Kasi TV station leaves employees out in the cold with no pay

Employees of the start-up media house are angered for not receiving salaries as promised at the end of June.

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nene asked unions representing Eskom workers to provide ideas to fund wage increases after negotiations with Eskom deadlocked.

How Steinhoff shares doubled in just five days

How Steinhoff shares doubled in just five days

Founder of Herenya Capital Advisors, Petri Redelinghuys, explains how the embattled Steinhoff managed to double its share price in 5 days

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

SA-made Rolkem cake decoration products may not be safe to eat

SA-made Rolkem cake decoration products may not be safe to eat

The UK’s Food Standards Agency issued an advisory, claiming that Rolkem failed to confirm that their ingredients were safe to eat.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.