Recent amendments to FICA have aimed to strengthen South Africa’s AML/CFT regime to align it with international standards. Despite some progress in arrests and confiscations, concerns persist regarding whether major players are being targeted effectively. Additionally, insufficient prosecutions undermine the progress made with arrests. The Financial Intelligence Centre (FIC), operating under the Anti-Corruption Task Team (ACTT), collaborates with the National Prosecuting Authority (NPA), Directorate for Priority Crime Investigation (DPCI), and South African Revenue Service (SARS) on a joint project to confiscate criminal proceeds.
Historically, the SAPS has been too slow to take on more staff, particularly financial investigators and forensic accountants. Because of this, the SAPS has been ineffective in utilising financial intelligence in money laundering cases. COMPLETE: We stopped tracking this specific reform at end-June 2025 as it is complete and in effect.
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