Anti-corruption bill could face Constitutional Court challenge: report
The Progressive Professionals Forum (PPF) has promised to appeal the newly approved Financial Intelligence Centre Amendment (FICA) bill in the Constitution Court as it believes the law gives undue powers to South Africa’s banking sector, according to a report by News24.
While the organisation supports the bills’ higher aims to combat white-collar crime in South Africa, it must do so without discarding the rights of our members, said PPF spokesperson Luther Lebelo.
As a result he confirmed that the PPF would be writing to finance minister Malusi Gigaba to postpone the bill, failing which the organisation will be appealing the introduction of the bill in the Constitutional Court.
“We have a number of concerns with the Bill. One is that it abolishes the current council, the counter money laundering council on which several parties, including the Reserve Bank, sits. Inspectors will now be accountable to the banks,” said Lebelo.
“It gives banks the power to make the determination on suspicious transactions. It means that banks can freeze bank accounts where they see fit and hence take away the objectivity of the previous council.”
After much controversy, President Jacob Zuma officially signed the bill into law on Saturday, 29 April which allowing for increased scrutiny of the bank accounts of prominent individuals in the country, including himself.
The initial bill was passed by Parliament last May, but was sent back to the legislature by Zuma, who said he was concerned about the legality of provisions allowing searches without warrants.
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