Public comments as delivered
Articles of interest
- Moneyweb – Strong anti-money laundering rules, supervision critical to SA’s reputation
- News24 – Afrika Tikkun Foundation concerned about impact of proposed anti-money laundering bill on NGOs
- PoliticWeb – Call for more time to consider compulsory NPO regulation – IRR
- BizNews – limp-wristed crime fighting SA”s Greylisting downfall
- Daily Maverick — Mandatory registration requirement in money-laundering and terrorist financing bill will badly hurt SA non-profits
- SA News – Treasury tables bill to tackle money laundering
- Moonstone – Treasury publishes omnibus anti-money laundering bill
- Trust Property Control Act, 1988 to prevent the misuse of trusts for money laundering or terrorist financing, ensure that there is adequate, accurate and timely information on trusts, including information on the trustee and beneficiaries, that can be obtained or accessed in a timely fashion by the authorities, and address the deficiencies relating to trustees being required to obtain full information on beneficial ownership when they are creating trusts;
- the Nonprofit Organisations Act, 1997, to ensure that nonprofit organisations are not misused by terrorist organisations, or vulnerable to terrorist financing abuse;
- the Financial Intelligence Centre Act, 2001, to effect certain amendments to the objectives and powers of the Financial Intelligence Centre; customer due diligence requirements; to amend provisions relating to a “beneficial owner”;
- to amend provisions and Schedules relating to “politically exposed persons”;
- to amend provisions relating to the risk management and compliance programme and targeted financial sanctions;
- and amend provisions providing for the amendment of Schedule 2 to the Act and the Schedules.
- the Companies Act, 2008, to require that there is adequate, accurate and up-to-date information on the beneficial ownership and control of legal persons that can be obtained or accessed rapidly and efficiently by the authorities, through a register of beneficial ownership; and
- the Financial Sector Regulation Act, 2017, to enable the financial sector regulators to issue standards and directives in relation to beneficial owners of financial institutions.
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