South AfricaThe South African government and private sector partners published a report on the terrorist financing risk of the nonprofit organization sector in the country, which was conducted in line with international standards set by the Financial Action Task Force.
The National Treasury of South Africa invited the public to submit written comments on draft amendments to the Money Laundering and Terrorist Financing Control Regulations, which aim to strengthen reporting requirements with respect to conveyance of cash or bearer negotiable instruments.
U.S. lawmakers target ransomware payments, IRS-CI chief joins Chainalysis, and more, in the weekly roundup.
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U.S. regulators warn banks to identify their customers’ customers, banks leaving key details out of export-related SARs, and more, in the midweek roundup.
The Financial Sector Conduct Authority of South Africa imposed an administrative sanction of R16 million on the Johannesburg-based investment management business for failing to maintain an adequate anti-money laundering and counterterrorist financing program.
The South African Reserve Bank imposed a R35 million fine on the Sandton, South Africa-based bank for anti-money laundering and counterterrorist financing deficiencies related to risk management and enhanced due diligence controls.
| Technical | Effectiveness |
|---|---|
| Compliant : 5 | High : 0 |
| Largely Compliant : 29 | Substantial : 0 |
| Partially Compliant : 5 | Moderate : 8 |
| Non-Compliant : 0 | Low : 3 |
| Not-Applicable : 1 |
| Rank : 87/141 |
| Score : 4.83/10 |
| Rank : 70/180 |
| Score : 44/100 |
| Rank : 58/133 |
| Score : 56/100 |