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ENSafrica

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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ENSafrica

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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ENSafrica

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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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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Templars

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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Bowmans

Mauritius de-listed – the way forward

2022 has kicked off on a positive note for Mauritius as it no longer features in the non-compliant jurisdiction lists of any international supervisory bodies.

On 7 January 2022, the European Parliament and the European Council delisted Mauritius from the EU List o..

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FB Attorneys

Anti-Money Laundering Act to be amended

The Government has tabled the Anti-Money Laundering (Amendment) Bill of 2022 in the National Assembly.

 

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ENSafrica

The Proceeds of Crime and Anti-money Laundering (Amendment) Bill 2021

The Proceeds of Crime and Anti-money Laundering Bill (the “Bill”) gazetted on 03 September 2021 seeks to amend the current Proceeds of Crime and Anti-money Laundering Act, 2009 (the “Act”). The Bill proposes to introduce a number of changes targeted towards countering the..

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