Parliament approves anti-money-laundering bill
South African legislators on Tuesday approved a anti-money laundering bill that will increase control of the bank accounts of "politically exposed people" three months after President Jacob Zuma has referred to Parliament.
The National Assembly of 400 members of the country voted through the party lines for the bill at the Financial Intelligence Center (FICA) to be adopted by Zuma, virtually unchanged from the moment that Parliament has sent the president in may.
Bill aims to strengthen the fight against global financial crime by facilitating the identification of the ultimate owners of society and accounts - including those of "national opinion leaders."
At the time, South Africa was under pressure to meet international requirements for regulatory corruption, but the Intergovernmental Panel of Financial Experts granted it more time.
The bill also required that local banks continue to be part of the international banking system.
Revolt throughout the bill and its rejection came in the back of a report by the body's constitutional anti-corruption lawyer arguing that the wealthy Gupta family exerts an undue influence on Zuma, his cabinet and state-owned enterprises.
Zuma and the Gupta have denied any wrongdoing and said they would challenge the report in court.
The National Assembly of 400 members of the country voted through the party lines for the bill at the Financial Intelligence Center (FICA) to be adopted by Zuma, virtually unchanged from the moment that Parliament has sent the president in may.
Bill aims to strengthen the fight against global financial crime by facilitating the identification of the ultimate owners of society and accounts - including those of "national opinion leaders."
At the time, South Africa was under pressure to meet international requirements for regulatory corruption, but the Intergovernmental Panel of Financial Experts granted it more time.
The bill also required that local banks continue to be part of the international banking system.
Revolt throughout the bill and its rejection came in the back of a report by the body's constitutional anti-corruption lawyer arguing that the wealthy Gupta family exerts an undue influence on Zuma, his cabinet and state-owned enterprises.
Zuma and the Gupta have denied any wrongdoing and said they would challenge the report in court.
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