President Jacob Zuma has signed the Financial Intelligence Centre Amendment (FICA) bill into law, the presidency said in a statement on Saturday morning but the internet has been left confused.
Presidency’s Dr Bongani Ngqulunga said the Financial Intelligence Centre Amendment Act, assented by the President, amends the Financial Intelligence Centre Act, 2001.
The 2001 Act and other related Acts aim to combat money laundering and the financing of terrorism. Ngqulunga said Zuma was satisfied that the Act addresses the constitutional concerns he had raised about warrantless searches.
“These amendments to the Financial Intelligence Amendment Act further strengthen the transparency and integrity of the South African financial system in its objectives to combat financial crimes, which include tax evasion, money laundering and the financing of terrorism and illicit financial flows,” Ngqulunga said.
The amendments would also make it harder for people who are involved in illegitimate activities or tax evasion to hide behind legal entities like shell companies and trusts.
But the news has left the internet very confused. Most South Africans have not forgotten about the 783 fraud, racketeering and corruption charges that were laid against number one so where does the FICA bill leave his “illicit financial flows”.
#zuma signing legislation to stop corruption is like #Trump signing legislation to prohibit self-tan! #ficabill #notmypresident
— Andrew Ross (@maddog_sa) April 29, 2017
Finally FICA bill has been signed by the crook himself https://t.co/gyc0Jp2R17
— siphelele (@Siphele12442356) April 29, 2017
#FICABILL@MzwaneleManyi now that the President has signed the bill are you going to court? I'll listen on the radio 🎤 pic.twitter.com/5W3JAESOBe
— Tumi Sole (@tumisole) April 29, 2017
Ol'Jacob was waiting for the #Guptas to move the loot around before signing the #FICABILL. We see you JZ!
— Leslie (@LeslieThoka) April 29, 2017
So #zuma signed the #FICA bill after he was dragged, kicking + screaming 2 do it. Y? Cos it exposes crooks like him. #SAvsZuma @MmusiMaimane
— ALETTAHA☺♥☀ (@ALETTAHA) April 29, 2017
I thought it was "resigned" instead of "signed"👀 I nearly jumped #zuma #FicaBill #ZumaMustFall https://t.co/enkp9KmrHW
— Thabi Langa (@Deepethics) April 29, 2017
Because Number One is our resident Constitutional Law expert. #Zuma #FICA https://t.co/jt0QKcqMuq
— Ministry of Parody (@ParodyMinistry) April 29, 2017
It must have been extremely painful for No 1 and his merry band of thieves to sign the FICA Bill into law. Not that it will stop them #FICA
— Greg Volkwyn (@GregVolkwyn) April 29, 2017
🚿head has finally signed the #FICA bill into law 🤔
— Mzwesh #No.1Hustler (@mzwakhengwee) April 29, 2017
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