financial intelligence centre Archives

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Bring enablers of property corruption to book, says Open Secrets in new report

21 Nov 2024, 10:56

Image: Wikimedia Commons Lawyers, real estate agents, bankers. These are some of the private sector players that have enabled Africa’s political elite to freely engage in alleged gross money laundering and illicit property dealings in the luxury property market in some of South Africa’s most sought-after locations. Their complicity, say civil society organisations, means that Read more >

CORRUPTION NEWS

The FIC is reaping the rewards of enhanced laws

09 Oct 2023, 14:22

Is South Africa winning the anti-money laundering war? The Financial Intelligence Centre (FIC) would like us to trust that this is the case. In its latest annual report, released at the end of September, the state-owned body declared that it had recovered more than R5.8-billion in criminal proceeds in the last financial year alone, partly Read more >

CORRUPTION NEWS

Tax havens will siphon trillions unless action taken

10 Aug 2023, 9:33

We know about the millions and billions lost to theft, corruption, maladministration, and other widely publicised causes – but what about the more insidious loss of similar amounts to the undeclared movement of taxable funds across borders? On 25 July the Tax Justice Network (TJN) published its annual State of Tax Justice report, and at Read more >

CORRUPTION NEWS

FIC helps with recovery of over R5-billion in criminal proceeds

21 Oct 2022, 12:25

In its 2021/2022 annual report, released at the end of September 2022, the Financial Intelligence Centre (FIC) noted that it achieved 17 of its 19 performance goals – and exceeded 10 of the 17. One of these was to contribute to the recovery of stolen money in a way that exceeded its previous achievement. This Read more >

CORRUPTION NEWS

CW and AmaB submit on anti-money laundering bill, express concerns

11 Oct 2022, 11:50

In a comprehensive joint submission to Parliament’s Standing Committee on Finance today, non-profit organisations Corruption Watch and AmaBhungane expressed concern that the haste with which the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill was developed may have compromised its effectiveness. The bill was prepared in a matter of months after the Financial Read more >

CORRUPTION NEWS

BOT conference – from commitment to implementation

23 May 2022, 12:07

Gathering a diverse group of people in one room to talk about a common cause is a good first step, no matter the cause. The next step is acting on the points raised and the discussions held – not quite as easy or simple. This is the task before the organisers and attendees of last Read more >

CORRUPTION NEWS

BOT conference: accessible, reliable information will boost prosecutions

23 May 2022, 11:03

Corruption Watch, together with the Department of Public Service and Administration (DPSA), the Financial Intelligence Centre, the Open Government Partnership, and Open Ownership, co-hosted a conference on taking steps towards achieving beneficial ownership transparency. Titled Collective action for beneficial ownership transparency (BOT) in South Africa: From commitment to implementation, the two-day event, on 16 and Read more >

PRESS RELEASES

Conference: Collective action for beneficial ownership transparency in SA

12 May 2022, 11:19

Members of the media are invited to a two-day conference on beneficial ownership transparency (BOT) in South Africa, taking place in Cape Town on 16 -17 May 2022. The event is hosted by the Department of Public Service and Administration, the Financial Intelligence Centre, Open Government Partnership, Corruption Watch, and Open Ownership. The subject of Read more >

CORRUPTION NEWS

No Digital Vibes feedback for Scopa yet, funding crisis looming for NPA

07 Jul 2021, 10:37

Presidency was a no-show for a hearing of the parliamentary standing committee on public accounts (Scopa) on Tuesday, that was meant to receive feedback on the progress of high-profile corruption reports overseen by the country’s law enforcement agencies. This despite having been furnished with Special Investigating Unit (SIU) reports – among them the recently completed Read more >