A new bill being fast-tracked by National Treasury will grant the Financial Intelligence Centre FIC the authority to conduct lifestyle audits on South African citizens.
The South African Revenue Service Sars already has these powers and frequently uses them to ascertain whether your standard of living matches your declared income.
Under the General Laws Amendment Bill of 2025, the FIC will have its own powers to conduct lifestyle audits, not just in response to suspicious transactions, but as a proactive measure.
