Minister of Finance appoints Acting Director for Financial Intelligence Centre

by
1 min read
f i

On September 1, 2023, South Africa’s Minister of Finance, Enoch Godongwana, announced that Advocate Pieter Smit will assume the role of Acting Director of the Financial Intelligence Centre (FIC). This appointment will be in effect for six months, ending on February 29, 2024, or until a new Director is appointed.

Extensive legal and policy expertise

Adv. Pieter Smit’s career is rooted in legal and policy expertise. He joined the FIC in 2004 as the Executive Manager of Legal and Policy. As a key member of the team responsible for the establishment of the FIC, his contributions have been foundational to the organization’s growth. Smit’s work primarily involves developing proposals to amend the FIC Act and guiding the processes for the passage of the FIC Amendment Bills through Parliament.

Multifaceted role within FIC

Adv. Smit’s role within the FIC is multifaceted. He develops policies for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), stays current on international policy developments, and monitors money laundering and terror financing risk typologies. Additionally, he directs the process of formulating domestic AML/CFT policies within the organization.

Experienced delegate

Adv. Smit is an experienced delegate and has been a longstanding member of the South African delegation to the Financial Action Task Force (FATF) and the Eastern and Southern Africa Anti-Money Laundering Group. He holds a Baccalaureus Iuris degree and a Bachelor of Laws degree from the University of Pretoria, as well as a Master of Laws degree from Rand Afrikaans University. Adv. Smit was admitted as an Advocate of the High Court of South Africa in 1990.

Gratitude for former Director

Minister Godongwana expressed gratitude to Adv. Xolisile Khanyile for her service as the Director of the FIC since January 2018. Her critical role in shaping the FIC’s trajectory and dedication to the organization will not be forgotten. The Minister wished her well in her future endeavors.

Continued vigilance in the fight against money laundering and terror financing

With a wealth of expertise and a proven track record, Adv. Pieter Smit is well-positioned to lead the Financial Intelligence Centre during this interim period. His appointment underscores the importance of maintaining strong leadership and continued vigilance in the fight against money laundering and terror financing. The process of appointing a new Director is underway, and the FIC will undoubtedly benefit from the guidance of a seasoned professional like Smit in the meantime.

A Russian-Spanish journalist and Cape Town native, channels his lifelong passion for South Africa into captivating stories for his local blog. With a diverse background and 50 years of rich experiences, Serjio's unique voice resonates with readers seeking to explore Cape Town's vibrant culture. His love for the city shines through in every piece, making Serjio the go-to source for the latest in South African adventures.

View all

Leave a Reply

Your email address will not be published.

p u
Previous Story

Western Cape Infrastructure Supports Citizens with Extended Housing Services during Public Service Month

s o
Next Story

Premier Alan Winde’s Visit to Paarl: Ensuring Essential Services Continue During Power Cuts

Latest from Blog

online education career advancement

Thriving in the Job Market: The Power of Online Education

Online education is an excellent way for individuals to learn new skills while maintaining a steady income. Red & Yellow offers flexible programs instructed by industry specialists, allowing students to study at their own pace from anywhere, at any time. With online education, individuals can earn while they learn and experience significant career benefits, such as securing a new job, earning a promotion, or receiving a raise in salary. Red & Yellow’s accredited online qualifications provide students with recognized and valuable credentials, making them more competitive in the job market.

sports palestine

A Groundbreaking Journey: Palestinian Soccer Team Conquers Cape Town

The Lajee Celtic Club, a football team from the Aida Refugee Camp in Palestine, embarked on a pioneering expedition to Cape Town to compete in a series of matches. The journey, named Aida2Africa, embodies the determination and resilience of young athletes who have refined their skills against all odds. As representatives of their homeland, the Club carries the aspirations of a whole community, striving to effect change through the game of football.

violence against women femicide

A Gripping Tale of Crimes in the Peaceful Town of Worcester

In Worcester, two men were found guilty of setting their partners on fire, resulting in their deaths. The crimes shed light on the ongoing issue of violence against women and femicides, which the National Prosecuting Authority is dedicated to fighting. Ruiter Erasmus was sentenced to 25 years in prison for killing Monica Daniels, while Richard Samuels received 15 years for killing his wife, Valencia Samuels, in a fit of rage. The incidents highlight the need for urgent attention and transformation in society to prevent such atrocities from occurring.

homelessness security

Fatal Confrontation in Mowbray: The Intersection of Homelessness and Security

A homeless man, Stanton Daniels, was fatally shot by a security guard at the Mowbray bus terminal in South Africa. Daniels had been living on the streets for 15 years and had set up his makeshift home next to a bus kiosk. The incident has sparked a larger conversation about the intersection of homelessness, public security, and societal ignorance. The investigation is ongoing, but the shooting highlights the marginalization of the homeless and the need for their stories to be heard.

the duck amphibious bus

Cape Town’s Innovative Attraction: The Duck

The Duck, Cape Town’s floating bus, is set to revolutionize tourism with its ability to morph into a boat and offer an unmatched experience for sightseers. With a capacity of 40 passengers, The Duck provides panoramic views along the Atlantic Seaboard, symbolizing Cape Town’s spirit of innovation. Stemming from its wartime history, the transformation of this military vehicle into a provider of tranquil sightseeing tours is indeed an engaging tale, serving as a metaphorical reminder that even the most practical of tools can be repurposed for the pure joy of novel experiences.