South Africa Closes Finance Bill Loopholes to Stop Crime

South Africa's Finance Minister Enoch Godongwana has welcomed the passing of the Finance Amendment Bill on November 22, 2022 - to counter money laundering, as well as the financing of terrorism. This amendment aims to prevent"greylisting" - defined as a global attempt at preventing illicit funds being channelled to terror groups or organisations.

The minister said this development marked a significant milestone in actions taken by South Africa to address deficiencies in dealing with money laundering and the financing of terror, that was identified by the Financial Action Task Force .SAnews.gov.za, 22 November 2022 Finance Minister Enoch Godongwana has welcomed the passing of the General Laws Amendment Bill by the National Council of…

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