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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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.
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..
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..
On 24 February 2023, the Financial Action Task Force (FATF) took the decision to include South Africa on its "grey list", thereby classifying it as a jurisdiction under increased monitoring. This decision follows the mutual evaluation report published by the FATF in..
Our Financial Regulation team recently prepared a client alert with details about entities that are deemed accountable institutions i..
Over the past 10 years, there has been large-scale domestic and international financial fraud in South Africa. Sometimes, trusts and foundations are involved, including both South African and foreign trusts, as well as charitable trusts. This increase in cross-borde..
On 24 February 2023, the Financial Action Task Force placed South Africa on its ‘grey list’. This means that South Africa will be subject to increased monitoring by the FATF and is required to actively work to address identified deficiencies in its national legislation an..
On 12 January 2023, the Central Bank of Nigeria (“CBN”) issued its Guidance on Ultimate Beneficial Owners of Legal Persons and Legal Arrangements (“the Guidance”). The Guidance was developed by the CBN in furtherance of its 2022 anti-money laundering and anti-terrorism fi..
n a bid to promote and facilitate reporting of organized crimes, corruption offences, unethical conduct, abuse of office, illegal and dangerous activities and to provide for the protection of whistleblowers and witnesses (witnesses) against potential retaliation or victim..