Money Laundering
latest news & developments
Greylisting isn’t the only test of South Africa’s financial system
With a review imminent, the country faces more than the risk of remaining greylisted. Outdated, costly global money transfers are undermining competitiveness, increasing trade…
R11.5m Digital Vibes funds laundered through bogus cattle sales, SIU says
New evidence in the matter suggests that former health minister Zweli Mkhize and his family received funds funnelled through the sale of cattle and the purchase of a farm
Greylisting is a symptom. South Africa’s real crisis is dysfunction without consequence
Financial crime governance should be happening in the boardroom and the legal and financial fallout from the lack of enforcement is becoming increasingly serious
Lesufi ‘sat on’ dignity pack fraud report
The project was meant to supply dignity packs to girls and women at no-fee schools and colleges
EFF vows to challenge parliamentary cases against its MPs
Parliament will this month hold hearings against Economic Freedom Fighters accused of disruptive behaviour during President Cyril Ramaphosa’s budget vote speech last year
When crime is cloaked as religion
Religion is often the business plan of fraudsters who lie effortlessly to their congregants
African states need strong audit institutions to stem fraud, money laundering
Auditors general and anti-corruption agencies from 14 countries met to establish ways to stop corruption and illicit financial flows
DA: Greylisting is indictment on government’s inability to combat financial crimes
The top priority must be to take swift action to get off the greylist, restore SA’s reputation and regain the global community’s trust, party says
Despite progress, South Africa’s greylisting is in black and white
Financial Action Task Force noted the country made ‘a high-level political commitment’ to work with the watchdog to tackle money laundering
Godongwana says risk of grey-listing is real
The finance minister said South Africa still needs to address shortcomings but hopes the sanctions will not be severe
Drugs, corruption and fraud account for bulk of Hawks arrests in second quarter
Hawks head Godfrey Lebeya also announced new appointments to boost the directorate’s capacity, including Lieutenant General Siphesihle Nkosi, who becomes its deputy head
‘Prepare for the worst’: 85% chance that SA will land on grey list
If the government is seen to be making serious efforts to comply with anti-money laundering requirements, the country’s greylisting might not last long
Why state capture could see SA greylisted
The Gupta era exposed the flaws in the country’s anti-money laundering framework and now the government is dealing with the consequences
Government forges on with dirty money clean up to avoid greylisting
Ismail Momoniat is hoping to take ‘a massive step forward’ in fortifying the country’s money laundering controls by passing two bills before next February
What the Fica? South Africa’s possible greylisting in black and white
South Africa’s banks and the treasury must address legal loopholes and weaknesses by October or face greylisting by global money laundering watchdog