Legislative changes

Even though the General Laws (anti-money laundering and combating terrorism financing -AML/CFT) Amendment Act has been passed, we expect full compliance with FATF regulations to take years. The recent FATF update of February 2024 noted that while South Africa has made progress since February 2023, several technical deficiencies still need to be addressed in areas such as outbound mutual legal assistance, supervision of DNFBPs and adequate access to business ownership information etc.

September 15, 2025

General Laws (anti-money laundering and combating terrorism financing -AML/CFT) Amendment Act

The legislation was enacted into law in 2022. The Amendment Act introduces stricter requirements for customer due diligence, record-keeping and suspicious transaction reporting, making compliance mandatory for a wider range of institutions, including DNFBPs and NPOs. The act expands the powers of AML/CFT supervisory authorities such as the Financial Intelligence Centre (FIC), Financial Sector Conduct…

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Protection of Constitutional Democracy Against Terrorism and Related Actives Amendment Act

The Protection of Constitutional Democracy against Terrorist and Related Activities Amendment Act 23 of 2022 is also referred to as the counter-terrorism law. It forms part of the successful efforts to get SA off the FAFT’s grey list. This law amended the Protection of Constitutional Democracy against Terrorist and Related Activities Act 2004 to serve…

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