Jacob Zuma says anti-corruption Fica Bill infringes on rights of powerful people

(Also read "Treasury wants to amend FICA to fight corruption - Zuma expresses reservations".)

This is just a straightforward effort to prevent criminal activity. Why would it be unconstitutional? It just enhances oversight. How can that be anything but a good thing?

Stuart Theobald, Intellidex

All the bill requires is the enhancement of procedures to flag high-risk transactions.

Steven Powell, ENS Africa

President Jacob Zuma has sent the Financial Intelligence Centre Amendment Bill (Fica Bill) back to Parliament for reconsideration.

Zuma is concerned about the constitutionality of the bill.

He has, specifically, raised concerns with the provisions relating to warrantless searches which, according to him, fall short of the constitutional standard required for the provision not to unjustifiably limit the right to privacy.

The Money Show’s Bruce Whitfield interviewed Stuart Theobald (Chairman at Intellidex) and Steven Powell (Director in Forensics at ENS Africa).

Listen to the interview in the audio below for the sceptical analysis (and/or scroll down for more quotes from it).

This will add further delays. South Africa has already fallen quite severely behind the global commitments it has to be part of the international fight against organised crime.

Stuart Theobald, Intellidex

This [delay] damages our international reputation.

Stuart Theobald, Intellidex

This legislation has already been delayed for long.

Stuart Theobald, Intellidex

It creates a new set of obligations on banks to be particularly careful when dealing with prominent people. It makes banks responsible for being much stricter about individuals at risk of being involved in corrupt activities.

Stuart Theobald, Intellidex

If the world is getting tougher on corruption it’s time for South Africa to come to the party.

Steven Powell, ENS Africa
Read More
How to create more time (and how to spend it wisely)

How to create more time (and how to spend it wisely)

Make no mistake; strategizing to grow your business takes time. Yet, few business owners seem to have enough of it.

Some investments are more attractive after Budget 2017 (some not so much)

Some investments are more attractive after Budget 2017 (some not so much)

Personal Financial Advisor Warren Ingram gives advice on where to put your money; considering changes brought by Budget 2017.

Cricket SA guns for international superstars to play in new #T20 Global League

Cricket SA guns for international superstars to play in new #T20 Global League

Best. News. EVER! South Africa is getting its own global T20 league. Bruce Whitfield interviews Cricket SA CEO Haroon Lorgat.

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Meet Zibusiso Mkhwanazi; CEO of “Digital at the core marketing agency” AVATAR

Mkhwanazi – son of an entrepreneur – founded a web design firm (Csonke.com) with R2000 when he was 17 and still in school.

5 most important ways Budget 2017 will tighten your belt for you

5 most important ways Budget 2017 will tighten your belt for you

The Money Show's Bruce Whitfield interviews Personal Finance Journalist Maya Fischer-French.

Treasury wants to amend FICA to fight corruption (Zuma expresses reservations)

Treasury wants to amend FICA to fight corruption (Zuma expresses reservations)

Treasury wants legislation to help it keep tabs on individuals in positions of power in the public and private sectors.

Popular articles
Ex-cyclone Dineo to hit Limpopo, Mpumalanga overnight - SA Weather Service

Ex-cyclone Dineo to hit Limpopo, Mpumalanga overnight - SA Weather Service

Despite the downgrade, residents in parts of Limpopo and Mpumalanga can still expect flooding and heavy rains.

Former Massmart employee threatened for speaking out on racial pay disparity

Former Massmart employee threatened for speaking out on racial pay disparity

Phathuxolo Maqavana has accused Massmart of paying him less than his white colleague, despite being on the same job level.

Vaal Dam levels increase by 5.2%

Vaal Dam levels increase by 5.2%

Department of Water and Sanitation says recent rains have increased the Vaal Dam levels but more is still needed.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Right now, these are the best shares to buy on the JSE (according to Adviceworx)

Bruce Whitfield interviews a Portfolio Manager about what she believes are the hottest stocks right now.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.