THE UGLY

Finweek English Edition - - THE WEEK -

South Africa will miss the Fe­bru­ary dead­line to in­tro­duce tighter mon­i­tor­ing of fi­nan­cial trans­ac­tions. The de­lay fol­lows the Pres­i­dency’s de­ci­sion to send the Fi­nan­cial In­tel­li­gence Cen­tre Amend­ment Bill back to Par­lia­ment, say­ing it is un­con­sti­tu­tional. The Pres­i­dency’s lawyers be­lieve the Bill’s pro­vi­sion for war­rant­less searches was too broad and con­tra­vened cit­i­zens’ right to pri­vacy, Busi­ness Day re­ported. Given the trou­bles some of the Pres­i­dent’s friends have been run­ning into re­lated to dodgy trans­ac­tions and bank ac­counts get­ting closed down, one can’t help but think the Con­sti­tu­tion has noth­ing to do with this mat­ter.

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