SARS to target 'professional enablers' of organised crime

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SARS to target 'professional enablers' of organised crime

The head of South Africa’s revenue service said it will ramp up efforts to target lenders and advisors who may be"professional enablers" of organised corruption and financial crimes to combat illicit capital flows and tax evasion.

Measures to hold them accountable include listing suspect lenders and other professional institutions as entities of interest in tax crimes that are being probed, instituting charges against them, conducting detailed investigations and audits and freezing assets to secure a flight risk of capital, Kieswetter said.R4.78-billion

Sasfin has rejected SARS's claim, while Standard Bank in an emailed response said it fired the employee allegedly involved in the money laundering scheme, adding that"no Standard Bank systems, processes or other assets were used in respect to the alleged gold smuggling and money laundering scheme.

The steps add to others taken by Kieswetter and his team to rebuild the agency popularly known as SARS after it was hollowed-out during former President Jacob Zuma’s scandal-marred rule. They include setting up units to deal with syndicated crime and handle the tax affairs of large businesses and high-net worth individuals.

 

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