Mutual Evalutation Report: Anti-Money Laundering and Combatting the Financing of Terrorism

Description

South Africa has been a member of the FATF since 2003. It has Implemented a number of measures to combat money laundering and the financing of terrorism through legislation and other means such as Financial Intelligence Centre Act of Executive summary: Mutual Evaluation Report Anti-Money Laundering and 11 March 2013 Combating the Financing of Terrorism: South Africa DPME 2 2001 (FICA), Protection of Constitutional Democracy against terrorist and Related Activities Act (POCDOCTARA) and Prevention of Organised Crime Act of 1998 (POCA). This report assesses the extent of South Africa?s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) measures as well as its compliance with the FATF?s 40+9 recommendations on combating money laundering and the financing of terrorism. The evaluation was motivated by concerns of the possibility of South Africa becoming a destination for money laundering and terrorist finance given its vulnerability to other international crimes and its exposure to drug trafficking. Further motivation was that South Africa had not yet undergone a typologies study of money laundering and financing of terrorism at a domestic level.

Information

Evaluation Number:
105
Score:
4.2
Report Approval:
26 February 2009
Published:
31 January 2013
Initiated By:
Financial Action Task Force
Undertaken By:
Financial Action Task Force/ Eastern and Southern African Anti-Money Laundering Group
Evaluation Period:
May 2008-February 2009
Evaluation Area:
Public finance, financial management
National Outcome:
National Outcome 6: An efficient, competitive and responsive economic infrastructure network.
Commissioned By:
Evaluation Type:
Implementation
Evaluation Subject:
Programme
Geographic Scope:
National

Evaluation Documents

File Name
105 EQAT 20130319 kf_mb.pdf
20Evaluation Report - Executive Summary Anti-Money Laundering and Combating the Financing of Terrorism 2009.pdf 105.pdf
EVAL 105 Executive Summary v2 20130322 mb.pdf

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