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- No I do not support the draft amendment 5930
- Yes I do 256
- Not fully 498
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The National Treasury has published the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill 2025, and is asking you to comment.
While the government frames this as a necessary step to stay off the global “grey list,” the Bill contains provisions that grant the Financial Intelligence Centre (FIC) unprecedented powers to monitor the lives of private citizens through Lifestyle Audits.
The Minister will consider all comments before implementation.
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National Treasury is fast-tracking the General Laws Amendment Bill of 2025, a piece of legislation that seeks to give the Financial Intelligence Centre (FIC) the statutory power to conduct “lifestyle audits” on South African citizens.
A lifestyle audit is a state-led investigation into whether your standard of living matches your declared income. Under the proposed amendments to the Financial Intelligence Centre Act, the FIC will no longer just respond to suspicious financial transactions; it will have the power to proactively probe your personal life at the request of municipalities and other state organs.
Furthermore, the Bill mandates that banks and other “accountable institutions” must now keep your personal records for seven years, up from the previous five-year requirement, and grants the FIC expanded access to these records for the purpose of conducting these audits.
While the state argues these measures are required to satisfy the Financial Action Task Force (FATF), the reality is a significant expansion of state surveillance. We must ensure that these powers are accompanied by strict oversight and that they do not infringe upon the constitutional right to privacy.
However, National Treasury’s General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2025 is far more than a “lifestyle audit” bill. It proposes a sweeping overhaul of several key pieces of legislation, moving the state into a proactive role of monitoring and policing everyday South African institutions.