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 >>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…
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 >>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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