Financial Action Task Team News Today

South Africa has addressed shortfalls in the regularly environment following some warnings from the FATF, which greylisted the country in 2023.

Until serious corruption is properly addressed, with fealty to the criteria set by the Constitutional Court in the Glennister judgment via the proactive reform of the criminal justice system, there will be no renewal in South Africa.

2023 looks set to be an eventful year in the South African business landscape.

Dealing anonymously with bitcoin or a similar cryptocurrency will become a lot harder in South Africa, thanks to updated rules under the Financial Intelligence Centre Act.

Our enforcement agencies and the criminal justice system need to be bolstered enough to deal with corruption, writes Mandy Wiener.

Tough love for SOEs, grants and state capture: the biggest points from Finance Minister Enoch Godongwanas 2022 Medium-Term Budget Statement.

Landing on the greylist means South African individuals and companies will become subject to enhanced due diligence, including more frequent and more invasive assessments for anti-money laundering and terrorism financing risks.

The country is expected to report back to the Financial Action Task Team to remedy its legislation identified in how it combats money laundering and the financing of terrorism.

Ronald Lamola: Constitutional Court has ordered Parliament to put in place effective, efficient and independent anti-corruption machinery.

SA gets 18 months to improve its capacity to track and prosecute money laundering and terrorist financing or face ‘grey listing’