Terrorism financing risk assessment update – Non-profit Organisations (NPOs)
Historically an area noted as being critically weak in terms of the effective assessment, with a low rating under the Immediate Outcomes (IO.9 and IO.10) ratings.
read more >>Institutional framework for sanctions
South Africa has applied its institutional framework for sanctions in alignment with the FATF recommendations and has made substantial progress in addressing the strategic deficiencies that led to its grey listing in February 2023. COMPLETE: We stopped tracking this specific reform at end-June 2025 as it is complete and in effect.
read more >>Legal framework for sanctions
South Africa’s legal framework for sanctions primarily involves the implementation and enforcement of targeted financial sanctions, particularly those mandated by United Nations Security Council resolutions under Chapter VII of the UN Charter. These sanctions frameworks are administered through the Financial Intelligence Centre (FIC) as per the Financial Intelligence Centre Act of 2001. This sanctions framework…
read more >>Improve risk-based categorisation and supervision
Government has been demonstrating a commitment to enhancing its risk assessment of Designated Non-Financial Businesses and Professionals (DNFBPs) to combat money laundering and terrorist financing effectively. The government has adopted a proactive approach to combating financial crime by continuously improving its understanding of risks within DNFBP sectors and implementing measures to mitigate them effectively. COMPLETE:…
read more >>FSCA
Government has adopted the following initiatives to enhance the supervisory capacity for AML/CFT: targeted strengthening of skills and expertise; revisions to the regulatory governing framework, focused supervision with more resources in high-risk sectors and entities; enhanced collaboration between government and industry stakeholders; development and integration of digital tools for monitoring and analysing AML/CFT risks; evaluation…
read more >>FIC
The Financial Intelligence Centre Act, 2001 (Act 38 of 2001) empowers the FIC to apply measures designed to identify the proceeds of crime, combat money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction. The FIC functions include: to receive regulatory reports and transaction and other data from accountable institutions and…
read more >>Changing law.
Significant work has been done at the legislative level to put in place the required laws to capture beneficial ownership information on both companies and trusts. The relevant authorities – the Companies and Intellectual Property Commission and the Master’s Office of the High Court – have both set up mechanisms to capture this information, though…
read more >>SAPS demonstrates increase in requesting information
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.
read more >>SAPS
SAPS’ building of capacity as well as training initiatives are vital to ensure that officers are well-skilled to combat crime. In line with the FATF recommendations at the legislative level, authorities like the FIC, the PBLSA and the National Anti-Corruption Advisory Council (NACAC) have been collaborating on initiatives with government to expand the overall law…
read more >>NPA
NPA capacity building and training initiatives are vital to ensure that officers are well-skilled to combat crime. In line with the FATF recommendations at the legislative level, authorities like the FIC, the PBLSA and the National Anti-Corruption Advisory Council (NACAC) have been collaborating on initiatives with government to expand the overall law enforcement agencies. COMPLETE:…
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