South African Finance Minister Malusi Gigaba has congratulated Advocate Xolisile Jennifer Khanyile on her appointment as the new Director of the Financial Intelligence Centre.
“The Financial Intelligence Centre (FIC) plays a key role in ensuring that the financial system has integrity. We also believe that Advocate Khanyile will work with other industry stakeholders to ensure that transparency is improved in South Africa’s financial system in order to support higher economic growth. We wish her well in her new role,” said Gigaba.
Advocate Khanyile’s appointment will be effective from 1 January 2018.
She holds a B Juris Degree from the University of Zululand, an LLB from the University of Zululand, and a Management Development Programme (MDP) from the University of the Free State Business School.
Positions Advocate Khanyile has held include that of Director of Public Prosecutions in the Free State; acting Director of Public Prosecutions in South Gauteng and Deputy Director of Public Prosecutions in the Asset Forfeiture Unit, among others.
The FIC collects information and analyses suspicious transactions as may be reported by financial or non-financial institutions like gambling bodies, estate agents, and lawyers. The FIC works together with other regulators and provides information to law enforcers to combat money laundering and terrorist financing.