The Bill's 'B' version is now available. Scheduled to be the focus of a final round of public hearings on Wednesday 7 December 2022, the revised Bill reflects changes made by the National Assembly’s Police Committee.
It is one of several measures being taken to address concerns identified by the international Financial Action Task Force (FATF). If not remedied, issues flagged by the FATF could result in South Africa being grey listed.
Another measure in the process of finalisation is the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Bill, a ‘B’ version of which is now being considered by the NCOP Committee on Finance.
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Published by SA Legal Academy Policy Watch