anti-money laundering Archives

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New index assesses money laundering weaknesses in real estate markets

26 Mar 2025, 10:37

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

Beneficial ownership register up and running in SA

24 Mar 2025, 14:08

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

SA has just two action items to resolve for grey list exit, says FATF

24 Feb 2025, 10:12

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

SA hopeful of exiting FATF grey list in 2025, two years after list debut

21 Feb 2025, 11:59

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

Artificial intelligence in anti-corruption: opportunities and challenges

10 Jan 2025, 11:04

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

SA still on FATF grey list, has more work to do

01 Jul 2024, 12:44

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

FATF issues update on SA’s grey list progress

08 Mar 2024, 10:54

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

SA makes progress in strengthening AML/CFT measures

22 Jan 2024, 10:20

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 >

CORRUPTION NEWS

FTI: writing was on the wall well before SA’s greylisting

09 May 2023, 11:25

In late February 2023, the Financial Action Task Force (FATF) announced the addition of South Africa to its so-called grey list, along with Nigeria, UAE, Tanzania, and Uganda. South Africa failed to satisfactorily address shortcomings in its anti-money laundering and -terrorist financing legal framework – which were highlighted in the FATF 2021 mutual evaluation review (MER). The Read more >