Following comments invited in January this year by the National Treasury, the General Laws (Anti-Money Laundering and Combating Terrorism Financing [AML/CTF]) Amendment Bill) has been introduced to Parliament and now resides with the Standing Committee on Finance. That committee has invited stakeholders, interested parties, and the public to submit further written comments on the latest Read more >
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CORRUPTION NEWS
The National Treasury has published the latest version of the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing [AML/CFT]) amendment bill 2025 and invites public comment on the bill. The deadline for submissions is 13 February 2026. The bill was published on 14 January in Government Gazette 53955, and is an update to the Read more >
CORRUPTION NEWS
In June this year we reported that South Africa was likely to be removed from the Financial Action Task Force’s (FATF) grey list after that organisation’s next plenary, which took place from 22-24 October. This has now happened, with the FATF announcing that it welcomed “South Africa’s significant progress in improving its AML/CFT regime”. The Read more >
CORRUPTION NEWS
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 >
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
The draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill is currently available for written comment. National Treasury (NT) published the bill in mid-December 2024. Submissions in writing must be received by no later than 6 February 2025. ”The publication of the draft Amendment Bill aims to demonstrate South Africa’s commitment to strengthening Read more >
CORRUPTION NEWS
The Hawks and NPA have had their heads stuck firmly in the sand for years now, since Sars initiated a series of search and seizure operations that unravelled Simon Rudland’s alleged gold and tobacco smuggling network. The reluctance by these entities to act is bad news for South Africa’s attempts to exit the FATF greylisting Read more >