Masutha unhappy about Fica act

JUSTICE and Correctional Services Minister Michael Masutha has questioned the Financial Intelligence Centre Amendment Act, saying it has destroyed a law enforcement structure to clamp down on financial crimes. Masutha said yesterday the security cluster was unhappy that the amended legislation has scrapped the governing council, provided for in the previous law, to deal with money laundering and other financial crimes. The economics cluster would meet to discuss how to fix the problem. The governing council brought together law enforcement agencies under one roof to fight these crimes, he said. “There was interaction between the security cluster and the economics cluster around the governance council,” he said. - Siyabonga Mkhwanazi