Parliamentarians yesterday passed bills to further safeguard the financial services sector – the Anti-Terrorism Amendment Bill, 2019 and the International Obligations (Economic and Ancillary Measures) Amendment Bill, 2019.

The first bill stipulates that a financial institution must make a report to the Financial Intelligence Unit (FIU) where there is a reasonable suspicion that funds maintained by it are those belonging to a person who commits acts of proliferation or participates in or facilitates the commission of proliferation acts, or the financing of proliferation.

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