South Africa: Report on Observance of Standards and Codes

International Monetary Fund

No 2010/272, IMF Staff Country Reports from International Monetary Fund

Abstract: South Africa has made good progress in developing its system for combating money laundering (ML) and financing of terrorism (FT). The report provides a summary of the Anti- Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures and also contains recommendations on how the AML/CFT system could be strengthened. South Africa has adopted mechanisms to freeze terrorist-related assets and also demonstrated a strong commitment to implementing AML/CFT systems, which have involved close cooperation and coordination between a variety of government departments and agencies. The country has established effective mechanism to combat ML and FT.

Keywords: ISCR; CR; regime; AML; customer; financial institution; FIC Act; South African authorities; CFT supervision; law enforcement authorities; CFT requirement; CFT system; CFT supervisor; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Legal support in revenue administration; Currencies; Africa (search for similar items in EconPapers)
Pages: 29
Date: 2010-09-01
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