Towards the end of 2022, several amendments and proposed changes to the structure of South Africa's anti-money laundering and counter-terrorist regime were implemented. Amongst these was the inclusion of several new items to the list of entiti..
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Towards the end of 2022, several amendments and proposed changes to the structure of South Africa's anti-money laundering and counter-terrorist regime were implemented. Amongst these was the inclusion of several new items to the list of entiti..
Amendments to FICA adding new accountable institutions to the Schedule were published on 29 November 2022. These came into effect on 19 December 2022, ahead of the possible grey-listing of South Africa by the Financial Action Task Force.
On 22 and 23 December 2022, President Ramaphosa signed two key pieces of legislation into law – the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 and the Protection of Constitutional Democracy Against Terrori..
Amendments to the Financial Intelligence Centre Act, 2001(defining accountable institutions) were published on 29 November 2022. These will come into effect on 19 December 2022, ahead of the possible; of South Africa.
On 22 November 2022, the National Assembly passed a revised version of the Omnibus Bill, which proposes to amend five pieces of legislation, including the Companies Act, 2008.
It has been a little over a year since the Financial Action Task Force (“FATF”), an international initiative established to combat money laundering published..
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.
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..
The passage of the Money Laundering (Prevention and Prohibition) Act, 2022 – which repealed the Money Laundering (Prohibition) Act, No. 11, 2011 – has introduced significant changes to the legal and institutional framework for the prevention and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..