In February this year we reported that South Africa had addressed all but two of the action items highlighted as regulatory weaknesses by the Financial Action Task Force (FATF), after a mutual evaluation review in 2021. This resulted in the country’s unwelcome debut on the FATF grey list in February 2023. The FATF is the Read more >
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CORRUPTION NEWS
Transparency International (TI) and the Anti-Corruption Data Collective have released a new report assessing property markets on their frameworks’ strength to prevent and detect dirty money in real estate. It should be noted, however, that the report examines just two specific metrics and because of the narrow scope of the research, may present a more positive Read more >
CORRUPTION NEWS
Towards the end of February, the Companies and Intellectual Property Commission (CIPC) met with the Portfolio Committee on Trade, Industry, and Competition to brief members on the status of its implementation of the Zondo commission recommendations pertaining to it, as well as progress on its actions to lift South Africa’s grey-listing. The CIPC’s role in Read more >
CORRUPTION NEWS
Last week we reported on steps taken by South Africa to enable its removal from the Financial Action Task Force (FATF) grey list, to which the country was added in February 2023. The FATF is the international standard-setting body that oversees global compliance with anti-money laundering (AML) and counter financing of terrorism (CFT) rules. Its Read more >
CORRUPTION NEWS
South Africa hopes to move off the Financial Action Task Force (FATF) grey list this year. The country was grey-listed in February 2023, and has been working since then to resolve the eight strategic deficiencies, relating to combating money laundering and terrorist financing, that were identified in the FATF 2021 mutual evaluation review. The FATF is the Read more >
CORRUPTION NEWS
By Soo Jin SoFirst posted on the Global Anticorruption Blog Artificial intelligence (AI) tools, with their capacity to efficiently process and analyse vast amounts of data, have enormous potential to enhance anti-corruption efforts. Traditional investigative methods, which often require extensive manual review of financial records, contracts, and communications, can be time-consuming and prone to human Read more >
CORRUPTION NEWS
In its latest update on South Africa’s progress in addressing shortcomings in its anti-money laundering/counter financing of terrorism (AML/CFT) regime, the Financial Action Task Force (FATF) noted that the country has made progress, but has yet to do enough to warrant its removal from the so-called grey list on which it was placed in late Read more >
CORRUPTION NEWS
In its latest update on South Africa’s progress in addressing shortcomings in its anti-money laundering/counter financing of terrorism (AML/CFT) regime, the Financial Action Task Force (FATF) noted that the country had taken steps to correct the deficiencies, though the work is not yet complete. The organisation published the update on 23 February 2024, after the Read more >
CORRUPTION NEWS
A November 2023 progress report on South Africa’s work towards addressing technical compliance deficiencies identified by the Financial Action Task Force (FATF) in the country’s anti-money laundering framework, reveals that there is forward momentum. South Africa has been a FATF member since 2003 and like all members, is therefore required to undergo mutual evaluations on Read more >