Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

AML, Analysis, Compliance News, MEA

BREAKING: South Africa’s struggle with ‘state capture’ has shown itself through consistent AML failings, FATF says in latest report

By Dan Byrne for AMLi

FATF in a 238-page document today called out many holes in South Africa’s AML defences – some of which are the result of years of foul play at the highest levels, the agency says.   

“South Africa has suffered from a sustained period of “State capture”, which helped to generate substantial corruption proceeds and undermined key agencies with roles to combat such activity,” read the report’s executive summary.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!