ANTI-TERRORISM, MONEY LAUNDERING ACTS GAZETTED BUT NOT YET IN FORCE

ANTI-TERRORISM, MONEY LAUNDERING ACTS GAZETTED BUT NOT YET IN FORCE

• 29 December 2022
• New Legislation
• SA Legal Academy

The Protection of Constitutional Democracy Against Terrorist & Related Activities Act and the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act have been published in the Government Gazette. Once operationalised – together with a raft of measures introduced elsewhere during recent months – they are expected to go some way towards remedying deficiencies in South Africa’s anti-money laundering and terrorism financing system, which were identified by the international Financial Action Task Force (FATF) in its October 2021 evaluation report. The 18-month grace period granted at the time is due to expire at on 31 March 2023, at which point the FATF will decide if South Africa meets its requirements. Should the steps taken fall short of FATF expectations, South Africa could be grey-listed.

• Protection of Constitutional Democracy Against Terrorist & Related Activities Act
• General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act
• FATF report

Published by SA Legal Academy Policy Watch

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