Posts

CW board member to preside over Moyane disciplinary

UPDATE, 22 May 2018: Kate O’Regan has been replaced by advocate Azhar Bham SC, after an objection by the legal team of Moyane. Moyane’s team had concerns about O’Regan’s impartiality in the matter. Embattled former South African Revenue Service (Sars) commissioner Tom Moyane is to face disciplinary charges. The Presidency announced last week that it Read more >

How does money laundering work?

Money launderers make use of numerous twists and turns in their efforts to hide their trails, but how does the process really happen? Here’s how. Money laundering is exactly what the words describe – washing the ill-gotten gains of their illegal origins so that what is left cannot easily be traced back to the original Read more >

Global anti-money laundering in four charts

First published on Transparency International Out of the hundreds of commitments governments have made to fight corruption and money laundering, one of the easiest to keep track of is the promise to implement the global anti-money laundering standards – the FATF recommendations. The Financial Action Task Force (FATF) is the world’s leading anti-money laundering organisation; Read more >

New international centre to combat grand corruption

International agencies have joined forces to tackle grand corruption across borders. Earlier in July the International Anti-Corruption Coordination Centre (IACCC) opened its doors, with the aim of clamping down on a crime category that can include bribery of public officials, embezzlement, abuse of power and money laundering of illegal proceeds. The IACCC will be based, Read more >

Full FIC amendment act needed to catch the corrupt

By Leanne Govindsamy First published in Business Day State capture does not happen because of the dodgy dealings of one person or even a handful of people. It happens because hundreds of people along the line — in the public and private sectors — have enabled it. They may have failed to conduct requisite due Read more >

FIC bill signed into law at last

On Saturday 29 April President Jacob Zuma signed the long-awaited Financial Intelligence Centre (FIC) bill into law. The amended FIC act is aimed at strengthening domestic regulations that deal with money laundering, the financing of terrorism, and illicit financial transactions. It brings South Africa up to standards and requirements set by the Financial Action Task Read more >

Corruption a major enabler of the illegal wildlife trade

Wildlife poaching is still a problem that affected countries such as South Africa can’t seem to get to grips with. A new report, released in November 2016 by the Environmental Investigation Agency (EIA), details the role that corruption plays in the perpetuation of the atrocious trade – corruption that emanates not only from countries that Read more >

Money laundering and related crimes – info centre

Money laundering and illicit financial flows are two related, but distinct types of corruption that pose a huge threat to development and political and economic stability around the world. Developing countries are especially hard hit. The two are closely linked to the concept of beneficial ownership, which is a term referring to the true owner Read more >

SA launches third OGP national action plan

The Open Government Partnership was launched in 2011 to provide an international platform that will enable domestic reformers to make their governments more open, accountable, responsive to citizens, and corruption-free. Since then, OGP has grown from the eight founding countries of Brazil, Indonesia, Mexico, Norway, Philippines, South Africa, the UK and the US, to 69 countries. In Read more >