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Webber Wentzel

Update: Cabinet approves the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill Tabled before Parliament

The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2022, which will make the necessary changes to avoid South Africa being “greylisted”, has been tabled.

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Why a failure to amend FICA could see disinvestment in South Africa’s financial institutions

South Africa has until the end of February 2023 to meet a tight deadline to amend its Financial Intelligence Centre Act, 2001 (“FICA”) or face the consequences of its financial institutions being added to a grey list alongside countries such as Yemen, Sou..

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Money Laundering Prevention and Prohibition Act 2022: Enhanced Anti Money Laundering Regime in Nigeria

The passage of the Money Laundering (Prevention and Prohibition) Act, 2022 – which repealed the Money Laundering (Prohibition) Act, No. 11, 2011 – has introduced significant changes to the legal and institutional framework for the prevention and prohibition of money..

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The Proceeds of Crime (Recovery and Management) Act, 2022: Revitalizing Nigeria’s Anti-Graft War

On 12 May 2022 the Proceeds of Crime (Recovery and Management) Act came into effect. Drawing from local experience in the anti-graft war, and noticeably influenced by international instruments such as the UN Convention on Corruption, the..

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Aluko & Oyebode

Assent of New Laws on Anti-Money Laundering/ Combatting of Financing of Terrorism in Nigeria

On 12 May 2022, the President of the Federal Republic of Nigeria, Muhammadu Buhari as part of the efforts to strengthen the AML/CFT regime in Nigeria signed into law the following Bills; (i) Money Laundering (Prevention and Prohibition) Bill, 2022 (ii) Terrorism (Preventi..

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AVM Advogados

Combating Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction

The Ministry of Justice and Human Rights has issued Circular 02/GMJDH/2022, dated March 22, which includes guidelines addressed to registrars and notaries regarding the fulfillment of their obligations stemmin..

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The Money Laundering Bill 2022

The Nigerian Senate, on 16th March 2022, passed the Money Laundering (Prevention & Prohibition) Bill, 2022 (the “Bill”). The Bill aims to abolish the Money Laundering (Prohibiti..

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FB Attorneys

Penal Code and other laws amended

On 8 March 2022, the Written Laws (Miscellaneous Amendments) Act, No. 1 of 2022 (the Act) came into force. The Act aims at effecting amendments in various laws including the Criminal Procedure Act (CPA), the Economic and Organized Crimes Control Act, the National Prosecution..
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Cliffe Dekker Hofmeyr

The Whistleblower Protection Bill 2021: An attempt to cure the cycle of corruption in Kenya

Corruption in Kenya has been cited as one of the key factors negatively affecting the country’s socio-economic development. The Kenya Ethics and Anti-Corruption Commission estimates that a third of the country’s annual budget is embezzled in corrupt deals with colossal am..

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