Opposition parties on Tuesday afternoon slammed President Jacob Zuma for sending the bill back to Parliament in November, saying his constitutional concerns were baseless.
Finance committee chairperson Yunus Carrim says legal advice had assured Members of Parliament (MPs) that warrantless searches are legal.
Government has been given until the end of the month to comply with the Financial Action Task force and sign into law amendments to the Financial Intelligence Centre Act.
Failure to do so would concern foreign banks and regulators.
MPs across the house agreed there could be no further delays.
