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INFORMAL CROSS-BORDER REMITTANCE PROVIDERS: DRAFT REGULATORY FRAMEWORK OUT FOR COMMENT
- 14 January 2026
- Financial Sector
- SA Legal Academy
The Prudential Authority has called for input by 31 March 2026 on a draft regulatory framework for alternative remittance providers using informal channels to transfer money and other items of value across borders – sometimes illegally. Reference is made to hawaladars, Hundi operators and Fei-Chen networks in that context.
Underpinned by international Financial Action Task Torce (FATF) Recommendation 14, once in force the draft framework is expected to go some way towards ensuring that the alternative/informal channels concerned are:
- licensed
- registered, and
- subjected to effective anti-money-laundering and counter-terrorism-financing supervision.
This will give practical effect to a commitment in the 2025/26 Budget regarding the expansion of cross-border remittance policy and associated measures to curb illicit financial flows.
- draft framework
- FATF recommendations
Published by SA Legal Academy Policy Watch
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