Zuma told to sign Financial Intelligence Centre bill into law or face court action
THE Council for the Advancement of the SA Constitution has asked President Jacob Zuma to sign the Financial Intelligence Centre (FIC) Amendment Bill, or refer it back to the National Assembly within 30 days.The organisation warned Zuma in a letter sent on Monday that it would approach the courts if he did not carry out his constitutional obligation.Council executive secretary Lawson Naidoo wrote that the legislation would "strengthen SA’s capacity to fight corruption, specifically money laundering, trafficking and finance of terrorism"."It will bring us into line with international standards on combating financial crime and in particular our obligations as a member of the Financial Action Task Force."Parliament passed the bill in May, and it is awaiting Zuma’s signature.The legislation requires banks to perform enhanced due diligence on "politically exposed" people in line with international obligations.This has aroused ire in some ANC quarters.The Presidency said in August that the...
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