Information exchange agreement signed between Financial Intelligence Centre (FIC) and the South African Police Service

PRETORIA - South Africa's efforts to identify and stem criminality were given a boost today with the signing of a memorandum of understanding between the Financial Intelligence Centre (FIC) and the South African Police Service (SAPS).

The MoU is geared to ensure the effective and efficient collaboration and timeous exchange of information between the SAPS and the FIC in the fight against crime. This collaboration is intended to assist in; the identification of the proceeds of crime; money laundering; terrorism and financing of terrorist and related activities; and in the implementation of financial sanctions regarding resolutions adopted by the United Nations Security Council.

The agreement provides a framework for the relationship between the FIC and the SAPS. It outlines the methodology, safeguarding, confidentiality and utilisation of the information exchanged between the SAPS and the FIC. This is critical to the speed and efficiency with which criminality can be investigated and those responsible for crime are apprehended.

A core deliverable of the FIC is financial intelligence reports, which are developed proactively or upon request from the SAPS. These reports contain detailed analysis and information that can assist the SAPS in its criminal investigations.

Speaking at the MoU signing, FIC Director, Adv Xolisile Khanyile, said: The FIC and the SAPS have enjoyed many years of effective collaboration in combating financial crime and money laundering.

Today and through this MOU, we hope to build on that legacy by enhancing and improving our levels of collaboration and effectiveness in the fight against crime.

National Commissioner of Police, General Khehla John Sitole has pledged unwavering commitment of the South African Police Service saying: "A joint integrated multi-disciplinary approach is the best way to address criminality in the Republic of South Africa.

"The coming together of expertise and resources will help create a formidable force against extreme criminality enabling us to ensure that people are and feel safe as it is outlined in our Constitution.

Speaking at the MoU signing, Deputy National Head of the Directorate for Priority Crime Prevention, Lieutenant General Yolisa Matakata said: "Preventing, detecting and deterring crimes that affect the South African economy is a priority for the DPCI.

Through collaboration on information sharing, we can improve our analytical, investigative and preventive techniques to fight criminality at its highest level."

This is the ninth information exchange MoU the FIC with stakeholders to date. Information exchange agreements have also been signed by the FIC with: the South African Revenue Service; the Special Investigating Unit; the State Security Agency; the Insurance Crime Bureau, the South African Reserve Bank; the Southern African Fraud Prevention Service; the Public Protector and the Financial Sector Conduct Authority.

Source: South African Police Service

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