SCOPA chairperson takes NPA to task over tackling illicit financial flows
The Deputy National Director of Public Prosecutions, Advocate Rodney de Kock, said the conviction rate for such crimes, currently stands at almost 80%.
Scopa chairperson Songezo Zibi. Picture: Parliament/Phando Jikelo
CAPE TOWN - The National Prosecuting Authority (NPA) says it can’t be blamed for South Africa being greylisted by the Financial Action Task Force (FATF) because of how it's handling serious commercial crimes.
The Deputy National Director of Public Prosecutions, Advocate Rodney de Kock, said the conviction rate for such crimes, currently stands at almost 80%.
Appearing before Parliament's standing committee on public cccounts (SCOPA) on Wednesday, de Kock was castigated by its chairperson Songezo Zibi for not acknowledging the shortcomings identified by the global anti-corruption watchdog in dealing with money crimes.
SA was greylisted early last year for not having enough safeguards in place to curb money laundering and terror financing.
READ: Business leaders urge government to get SA out of greylist
Greylisting impacts attracting foreign investment to the country and raises the cost of borrowing.
De Kock said since the greylisting, the government has made significant strides, having addressed 16 of the 22 points of concern.
"We are making good progress. We are still confident that we are going to get over the line. And a lot of work is happening, as we speak," he said.
But Zibi took a dim view of de Kock’s explanation.
He said State institutions had been found wanting by the FATF in preventing illicit flows and in prosecuting such crimes.
"Your answer is defensive. Your answer is extremely defensive and I would like to ask you not to do that," Zibi said.
The government hopes SA will be removed from the list by May next year.