S. Africa Setting Up Anti-Money-Laundering Body, Minister Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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Malusi K Nkanyezi Gigaba (Republic of South Africa)
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UUID: 7947283
(Bloomberg) -- Country is in process of setting up an inter-departmental committee on anti-money laundering and combating the financing of terrorism, Finance Minister Malusi Gigaba says in written reply to question by lawmaker, received by email.
- National Treasury director-general will chair the committee, which will have representatives from the Treasury, depts of justice, home affairs as well as State Security Agency, South African Police Service, central bank, National Prosecuting Authority, Financial Services Board and Financial Intelligence Centre
- Committee will coordinate nation’s response to Financial Action Task Force, a Paris-based anti-money laundering watchdog
- It will also prepare for the national risk assessment to facilitate compliance with international obligations
- More details on the committee to be made available after public consultations; will be published with final set of provisions of Financial Intelligence Centre Amendment Act on Oct. 2
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Malusi K Nkanyezi Gigaba (Republic of South Africa)
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UUID: 7947283