Publication

In the past decade South Africa enacted various laws aimed at combating money laundering. The mainly criminal legislation was recently supplemented by the Financial Intelligence Centre Act 38 of 2001 which creates the administrative framework for money laundering control. In this chapter the main laundering offences under the Prevention of Organised Crime Act 121 of 1998 as well as the main money laundering trends in South Africa are discussed. The chapter also analyses key provisions of the Financial Intelligence Centre Act and concludes with a brief discussion of the institutional capacity that South Africa currently has to implement its money laundering laws.