Welcome to Africa’s legal blog

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


Angola: Money Laundering, Terrorism Financing and Proliferation of Weapons of Mass Destruction

By way of Order 2/24, of 22 March 2024, the Angolan Central Bank (BNA) adopted the regulations for implementation of Law 5/20, of 27 January 2020, on the Prevention and Combating of Money Laundering, Terrorist Financing and Proliferation of Weapons of Mass Destruction app..

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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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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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Werksmans Attorneys

The FAFT, trusts and transparency in South Africa

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..

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South Africa: Grey-listing by the Financial Action Task Force

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..

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Webber Wentzel

Is your business an accountable institution? Your 90 days are running

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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New year, new laws: South Africa amends its money laundering and counter-terrorist financing regime

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..

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New accountable institutions in terms of FICA

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.

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Grey-listing looming as South Africa rushes to meet tight deadline

It has been a little over a year since the Financial Action Task Force (“FATF”), an international initiative established to combat money laundering published..

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