AML/CFT and Cybersecurity Laws in South Africa

Felix I. Lessambo ()
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Felix I. Lessambo: Fordham University

Chapter Chapter 26 in Anti-Money Laundering, Counter Financing Terrorism and Cybersecurity in the Banking Industry, 2023, pp 197-203 from Palgrave Macmillan

Abstract: Abstract In April 2012, the government of SA established the anti-money laundering and counter financing of terrorism (AML/CFT) Division within the Prudential Authority ((PA) previously the Bank Supervision Department) to supervise and enforce compliance with the FIC Act. South Africa well-developed financial infrastructure makes it an attractive target for cyber criminals who use the internet for extortion, fraud, child pornography, human trafficking, and selling illicit goods. There are no specific laws or guidelines for cybersecurity governance of banks in South Africa.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-031-23484-2_26

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DOI: 10.1007/978-3-031-23484-2_26

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