South Africa: Report on the Observance of Standards and Codes — FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Volume/Issue: Volume 2004 Issue 119

Publication date: April 2004

ISBN: 9781451840988

$20.00

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Topics covered in this book

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Public Finance , ISCR , CR , financial institution , offence , terrorism , FATF recommendation , FICA regulation , financing of terrorism , money laundering offence , FATF plenary , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Money laundering , Terrorism financing , Legal support in revenue administration , Africa

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Peru

Nepal

Republic of Congo : 2001 Article IV

Summary

This report provides a summary of the level of observance with the financial assessment task force recommendations and recommendations to strengthen observance. South Africa has developed a comprehensive legal structure to combat money laundering. The financial intelligence unit and other supervisory and investigative bodies appear adequately staffed and genuinely committed to implementing the new system. However, many of these measures are new and have not yet been fully put into effect, and all sectors will continue to increase attention and training on antimoney-laundering issues.