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Never miss a beat on Africa's legal and regulatory landscape.


Key considerations and compliance challenges as South Africa nears implementation of groundbreaking "Failure to Prevent Corrupt Activities Offence"

Arguably one of the most far-reaching recommendations of the State Capture Commission, the introduction of a failure to prevent corruption offence, is on the cusp of being introduced in South Africa. The Judicial Matters Amendment Bill (..

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Cliffe Dekker Hofmeyr

Recent amendments to South Africa’s non-profit organisation legislation in response to the FATF greylisting

In 2021, the Financial Action Task Force (FATF) released its Mutual Evaluation Report of South Africa, which summarised the effectiveness of South Africa’s anti-money laundering and counter-terrorism financing measures.

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The Beneficial Ownership Register: implementing the Financial Action Task Forces recommendations on money laundering and terrorism financing in Nigeria

Section 119 of the Companies and Allied Matters Act (“CAMA”) 2020, in conjunction with the Persons with Significant Control Regulations (“PSC Regulations”) 2022, requires companies, Limited Liability Partnerships (“LLPs”), and by extension, foreign exempted companies unde..

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Webber Wentzel

The Financial Intelligence Centre Publishes Final Guidance for Crypto Asset Services Providers

The FIC has published final guidance for crypto asset services providers, which are listed as accountable institutions as of 19 December 2022.

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Source of Funds and Source of Wealth are vital in battling money laundering and terrorist financing

Money laundering has emerged as a critical concern in today’s global financial system. It enables criminals to conceal the origins of illicitly obtained funds, posing significant threats to financial integrity and security. To combat this pervasive issue, it is cruc..

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Unmasking trust ownership: The introduction of beneficial ownership registers in South Africa

Between April 2019 and June 2021, South Africa underwent a mutual evaluation of its anti-money laundering and counter-financing of terrorism controls, which culminated in the publication of the Mutual Evaluation Report (“MER”) by t..

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The What and Why of Nigeria’s Grey Listing by the Financial Action Task Force and its Implications on Businesses Operating in Nigeria

This designation indicates increased monitoring by FATF as both countries actively work to address strategic deficiencies in combating money laundering, terrorist financing, and proliferation financing.

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Webber Newd

Strengthening Anti-money Laundering Processes In Lesotho: Focus On Politically Exposed Persons

Money laundering poses a significant threat to the financial system of every country, including Lesotho. To combat this illicit activity, Lesotho has implemented robust anti-money laundering (AML) laws and regulations. In this article, we will explore Lesotho's AML framew..

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Beneficial Ownership Registry: A solution to financial crimes?

The recent amendments to section 55 of the companies act, 2008 have introduced a comprehensive definition of a "beneficial owner," encompassing ownership, control, and material influence over a company. In this article, we explore the potential impact of the new definitio..

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