SADC experts gather for Anti-Money Laundering Week 2024

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Experts from around the Southern African Development Community (SADC) are meeting in Cape Town this week to take part in the Global Programme against Money Laundering, Proceeds of Crime and the Financing of Terrorism also known as the Anti-Money Laundering Week 2024.  

Among those expected are Justice Minister Ronald Lamola, representatives from the National Treasury, the South African Police Service, the Department of Forestry and the Environment, the National Prosecuting Authority, the Financial Intelligence Centre as well as the Special Investigating Unit.

South Africa was grey-listed by the Financial Action Task Force last year for its inadequate legislative measures against money laundering and combatting of terrorism financing.  

The country has since been re-evaluated and found to still have five areas that it needs to strengthen.  

Issues to be discussed this week include specialised events such as countering the financing of terrorism, financial disruption training on minerals-related crimes, tracing of and investigations involving virtual assets transactions, and a private sector dialogue on the disruption of financial crimes related to environmental crimes in Southern Africa. 

EXPLAINER | What does South Africa’s grey listing mean: 

GREYLISTING FAST FACTS complete by SABC Digital News