South Africa: Report on Observance of Standards and Codes

September 1, 2010

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South Africa: Report on Observance of Standards and Codes, (USA: International Monetary Fund, 2010) accessed December 26, 2024

Summary

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.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Currencies, Legal support in revenue administration, Money, Money laundering, Revenue administration, Terrorism financing

Keywords: Africa, AML, Anti-money laundering and combating the financing of terrorism (AML/CFT), CFT requirement, CFT supervision, CFT supervisor, CFT system, CR, Currencies, Customer, FIC Act, Financial institution, ISCR, Law enforcement authorities, Legal support in revenue administration, Money laundering, Regime, South African authorities, Terrorism financing

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/272
Stock No:

1ZAFEA2010001
ISBN:

9781455206551
ISSN:

1934-7685

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