IMF Staff Country Reports

South Africa: Report on Observance of Standards and Codes

Publication Date:

September 1, 2010

Electronic Access:

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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.

Series:

Country Report No. 2010/272

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