30 August 2022
A new initiative, currently piloted by several government departments and agencies in law enforcement and prosecution, is aiming to make it more cost effective, faster, and easier to investigate and recover assets acquired through suspected unlawful activities such as corruption, fraud, tax evasion and money laundering.
It is a collaborated effort to enable South Africa to confiscate criminal proceeds in line with the Financial Action Task Force (FATF).
It also aims to practically test how inter-agency cooperation can be operationally achieved to expand the limits of the current legislation by creating case law through court proceedings.
The participating agencies have entered into an inter-agency memorandum of agreement to formalise their collaboration and the practical implementation of the initiative in the cases to be selected; and to regulate the confidentiality of information to be shared amongst the agencies.
The next phase will select an appropriate case to test the existing provisions that target unexplained wealth in the courts.
You can read the full media statement here.