Finance Minister Enoch Godongwana has appointed Advocate Pieter Smit as the acting director of the Financial Intelligence Centre (FIC), in accordance with Section 8 of the FIC Act.
Smit's tenure as acting director will span six months – from September 1, 2023 to February 29, 2024 – or until a new director assumes office, whichever comes first. The process to recruit a new director is currently in progress.
Smit has been associated with the FIC since 2004 when he assumed the role of executive manager: legal and policy, a position he still holds. He played a pivotal role in the establishment of the FIC and has actively contributed to proposals for amending the FIC Act.
On certain occasions, he has led the legislative processes for the passage of the FIC Amendment Bills through Parliament. In his capacity at the FIC, Smit closely monitors money laundering and terrorism financing risk typologies, remains informed about international policy developments related to anti-money laundering and the combating of the financing of terrorism (AML/CFT) and spearheads the formulation of domestic AML/CFT policies.
He has been a longstanding member of the South African Delegation to the Financial Action Task Force and the Eastern and Southern Africa Anti-Money Laundering Group.
He holds a Baccalaureus Iuris degree, a Bachelor of Laws degree and a Master of Laws degree from the University of Pretoria. Smit was admitted as an Advocate of the High Court of South Africa in 1990.
Smit succeeds Advocate Xolisile Khanyile in the position.