Fica tweaks will assist in fight against illicit flows of funds.
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| The kind of prominent and influential people envisaged in S A’s |
That illicit financial flows can have on our economy.
"Money laundering, financing of terrorism and related crimes significantly undermine the integrity of financial institutions and systems. Illicit money leaving the continent reduces the amount of resources available to Africa to invest in jobs and provide critical social services to citizens and economy," he said.
Because they are hidden, illicit flows are difficult to quantify, but there is no doubt that they rob economies of billions...
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