money laundering Archives - Corruption Watch

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South Africa’s removal from FATF grey list draws nearer

20 Jun 2025, 11:04

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

Turning the tide on crime and corruption in pangolin scale and ivory trafficking

12 Jun 2025, 16:15

Corruption Watch is deeply interested in and concerned about the ongoing illicit wildlife trade (IWT), which affects our country drastically and is driven in large part by corruption in various sectors of our society. Over the years we have reported on developments and challenges with various trafficked species, always emphasising that corruption enables these heinous Read more >

CORRUPTION NEWS

Illegal wildlife crime is, at its heart, an economic crime, says WWF-UK

19 May 2025, 13:24

Image: Wikimedia Commons Despite growing awareness of and increasing measures against the illegal wildlife trade (IWT), it remains a serious global threat. This form of transnational organised crime, says the Wildlife Justice Commission, is estimated to generate at least US$20-billion in criminal proceeds each year, because it is largely low-risk and high-reward. Like corruption, IWT Read more >

CORRUPTION NEWS

Extreme wealth tax could boost the fiscus and help fight corruption

16 Apr 2025, 10:52

The concept of a wealth tax is a current hot topic of discussion around the world. There are numerous arguments for and against the practice, with some saying a wealth tax might be inequitable and place more of a burden on the middle class than the rich, and others saying a moderate, progressive tax is 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

Tax justice now – why the world needs a new global tax framework

21 Jan 2025, 13:24

For those who wonder why such a fuss is made about illicit financial flows in the form of tax abuse, here is the reason – countries around the world are losing US$492-billion in tax a year because multinational corporations and wealthy individuals are able to use tax havens to avoid or underpay tax. Nearly half 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

Comments invited on the 2024 Draft General Laws (AML/CTF) Amendment Bill

09 Jan 2025, 11:51

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 >