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TRC’s failure to tackle economic crimes raises concerns

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One of the biggest failures of South Africa’s Truth and Reconciliation Commission is its inability to deal with economic crimes.

This is according to political analyst Waheed Patel who says the crimes include the alleged looting of state resources during the apartheid era.

“This is a complex exercise. It will cover a number of jurisdictions; it will involve other governments…, a number of agencies internationally, regulatory agencies, policing security investigative agencies.”

Public Protector Thuli Madonsela is still conducting a preliminary investigation into the matter.

Patel says those who benefited from the alleged looting could include multi-national companies.

“It would involve the stock exchanges and banking structures of other countries. It would be a costly, lengthy big exercise. I mean that is the extent we are talking about. We are talking about money that may have been siphoned off to fight wars in other countries, to support militia,” adds Patel.

Patel adds that the money may also have been siphoned off to traffic arms and drugs, and to support money laundering activities.

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