Financial Intelligence Centre Act amendments are critically important in strengthening the financial system and ensuring it is of world standard to fight money laundering and terror financing, Finance Minister Pravin Gordhan said.
Parliament adopted the legislation unanimously.
In his foreword to the 2015-16 Financial Intelligence Centre (FIC) annual report tabled in parliament yesterday, Gordhan said the centre played a pivotal role.
On Tuesday, ANC secretary- general Gwede Mantashe and civil society groups called on President Jacob Zuma to sign the bill into law.
Zuma, who has had the bill for several months, has been petitioned by the Progressive Professionals Forum to reject it on constitutional grounds.
The FIC annual report noted that 3 531 (3 236 the previous year) accountable and reporting institutions submitted transaction reports to the FIC last year.