Question: Study the below scenario and complete the question that follows: In 2021, the Protection of Personal Information (POPI) Act was signed into law and became

 Study the below scenario and complete the question that follows: In

Study the below scenario and complete the question that follows: In 2021, the Protection of Personal Information (POPI) Act was signed into law and became operational. The Act ensures that everyone's right to privacy is taken seriously and provides protection against the unlawful collection, dissemination, and use of personal information including contact details, demographic information, personal history, as well as communication records. In terms of Banking Law, we have Financial Intelligence Centre Act (FICA). FICA is a legal framework that exists to help identify the proceeds of unlawful activities and to combat activities related to money laundering, terrorist funding, and tax evasion. Various control measures within FICA aim to ensure the detection and investigation of money laundering. Considering the above, critically discuss the relationship between FICA and POPI. In your answer, discuss whether FICA is in line with the right to privacy as protected by POPI. (20 Marks)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!