Minister of Finance appoints Acting Director for Financial Intelligence Centre

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.

Leave a Reply

Your email address will not be published.

Previous Story

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

Next Story

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

Latest from Blog

Cape Town’s Transformative Toy Libraries: Revolutionizing Early Childhood Development

Cape Town’s toy libraries are changing how young children learn by creating fun and exciting places to play and grow. With 24 vibrant libraries, kids can explore new stories and play with educational toys that help them develop important skills. Educators also benefit, gaining access to helpful resources that enhance teaching methods. This initiative not only supports children’s growth but also encourages a love for learning that can last a lifetime. As these libraries thrive, they inspire communities everywhere to embrace the joy of learning through play.

Innovative Urban Water Management: Embracing Wastewater Package Plants

Wastewater package plants are small, smart facilities that help cities manage dirty water in a cleaner way. They are easy to install and can be placed where big treatment plants can’t go, making them super useful for crowded urban areas. Recently, a workshop brought together many people to learn how to set up and run these plants, highlighting their importance for public health and the environment. By using these innovative systems, cities can boost their economies while making sure they take care of our precious water resources.

Confronting Illegal Mining in South Africa: A Complex Battle

South Africa is fighting against illegal mining with a strong team of police, soldiers, and private security. They’ve recently targeted a large group of about 6,500 illegal miners in Ekurhuleni, where hidden tunnels and makeshift homes showed the extent of this underground world. While these operations can push miners away temporarily, true solutions need to address the economic struggles that drive people to these risky jobs. The goal is to create lasting change that not only protects the environment but also offers communities new opportunities for a better life.

Balancing Tradition and Safety: Cape Town’s Fireworks Policy

Cape Town is getting ready for exciting celebrations like Diwali and Guy Fawkes Night, but there are important rules about fireworks! To keep everyone safe, people must get permission from the police and have their event checked by the Fire and Rescue Service. While many love the colorful displays, some worry about noise and the danger to pets and wildlife. As the city balances fun traditions with safety, it’s clear that thoughtful celebrations can light up the sky without causing chaos below.