Posts

OPINIONS

Full FIC amendment act needed to catch the corrupt

By Leanne Govindsamy First published in Business Day State capture does not happen because of the dodgy dealings of one person or even a handful of people. It happens because hundreds of people along the line — in the public and private sectors — have enabled it. They may have failed to conduct requisite due Read more >

CORRUPTION NEWS

FIC bill signed into law at last

On Saturday 29 April President Jacob Zuma signed the long-awaited Financial Intelligence Centre (FIC) bill into law. The amended FIC act is aimed at strengthening domestic regulations that deal with money laundering, the financing of terrorism, and illicit financial transactions. It brings South Africa up to standards and requirements set by the Financial Action Task Read more >

CORRUPTION NEWS

Corruption a major enabler of the illegal wildlife trade

Wildlife poaching is still a problem that affected countries such as South Africa can’t seem to get to grips with. A new report, released in November 2016 by the Environmental Investigation Agency (EIA), details the role that corruption plays in the perpetuation of the atrocious trade – corruption that emanates not only from countries that Read more >

CORRUPTION NEWS

Money laundering and related crimes – info centre

Money laundering and illicit financial flows are two related, but distinct types of corruption that pose a huge threat to development and political and economic stability around the world. Developing countries are especially hard hit. The two are closely linked to the concept of beneficial ownership, which is a term referring to the true owner Read more >

CORRUPTION NEWS

SA launches third OGP national action plan

The Open Government Partnership was launched in 2011 to provide an international platform that will enable domestic reformers to make their governments more open, accountable, responsive to citizens, and corruption-free. Since then, OGP has grown from the eight founding countries of Brazil, Indonesia, Mexico, Norway, Philippines, South Africa, the UK and the US, to 69 countries. In Read more >

CORRUPTION NEWS

Court sets aside decision to drop Zuma charges

At the beginning of March the bench of the Pretoria High Court, comprising Deputy Judge President Aubrey Ledwaba, Judge Billy Mothle and Judge Cynthia Pretorius, heard arguments in a case brought by the DA, calling for a review of the decision in 2009 to withdraw corruption charges against Jacob Zuma. The court handed down a Read more >

OPINIONS

Public reporting would curb illicit outflows from SA

They come, they see and – due to relaxed tax and finance laws, or legal firms that have perfected the art of tax avoidance – they conquer a lot more than they invest in Africa. These are multinational companies that find loopholes in the legislation of the continent’s poorest countries and are able to dodge Read more >

CORRUPTION NEWS

Panama Papers and offshore tax havens

With Hanna Ziady First published on Moneyweb Image by Mark Lewis Corruption Watch’s executive director David Lewis spoke to financial journalist Hanna Ziady of Moneyweb on Monday, regarding the implications of the leaked Panama Papers, a story that had broken over the weekend. Read the transcript below: Hanna Ziady (HZ):  It has been described as Read more >

CORRUPTION NEWS

$1-trillion-plus estimated to have left Africa illegally

by Khayalethu Hamana Over the past 50 years, Africa is estimated to have lost more than $1-trillion in illicit financial flows, but this may well fall short of reality, because accurate data does not exist for many countries. The estimates often exclude illicit flows, such as the proceeds of bribery and the trafficking of drugs, Read more >