ARTICLE · 03 NOVEMBER 2022

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Preventing Grey-listing Through Legislative Amendments

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The FATF is the global anti-money laundering and counter-terrorist financing watchdog.

South AfricaGovernment, Public Sector

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In November 2022, South Africa is expected to present a report to the Financial Action Task Force ("FATF") on the steps it has taken to address the shortcomings identified in the Mutual Evaluation Report concluded last year.

Two such steps include the General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Bill ("General Laws Amendment Bill") and the Protection of Constitutional Democracy against Terrorist and Related Activities Amendment Bill ("POCDATARA Amendment Bill"). In this article, we explore the impetus for these legal amendments and the consequences that South Africa may face if they are insufficient in the eyes of the FATF.

What is the FATF?

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