Terrorism financing risk assessment
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 >>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:…
read more >>Addressing deficiencies in anti-money laundering (AML) and combating terrorist financing (CFT)
Comprehensive reforms conducted to close gaps in South Africa’s AML/CFT regime, including legislative updates, enhanced supervision, improved investigations/prosecutions, and international cooperation. COMPLETE: We stopped tracking this specific reform at end-June 2025 as it is complete and in effect.
read more >>Counter terrorism financing strategy plan
To ensure South Africa has an effective, risk-based, and sustainable national strategy to identify, investigate, prosecute and prevent terrorist financing (TF), in full alignment with FATF standards and South Africa’s risk profile. 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 >>Anti-money laundering and combating terrorism finance legislation
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…
read more >>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…
read more >>Proactive response
Risk assessments of South African Mutual Legal Assistance (MLA) are essential for identifying strengths, weaknesses and opportunities for enhancing international cooperation in criminal matters. In terms of the legal framework, this has evolved in recent years with the MLA Criminal Matters Act (MLACMA) forming the foundation for requests and collaboration with international jurisdictions. COMPLETE: We…
read more >>FATF Grey Listing Remediation
The FATF confirmed on 13 June 2025 that all 22 action items are complete. On-site assessment by the FATF Africa Joint Group is scheduled before the October 2025 plenary. If sustained implementation and political commitment are confirmed, South Africa is expected to be removed from the grey list in October 2025. Remaining vigilant is critical:…
read more >>Cross-border transfers: action taken against unlicensed entities
Guidance was published by the FIC to assist accountable institutions to adhere to their international funds transfer reporting obligations in terms of FICA and the Money Laundering and Terrorist Financing Control Regulations. This means that financial services providers like banks (and others in the finance industry) are required to report certain information to the FIC…
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