South Africa: Money Laundering — The Duty to Report under the Law

Abstract

Money laundering in South Africa received legislative attention as recently as 1992. The advances in technology and particularly electronic funds transfers brought a dramatic increase in organised crime. Furthermore, with its return to the international arena, South Africa was becoming increasingly attractive for drug traffickers, not only as a transit destination but also as an end destination. This paper gives a historical overview of the legislation dealing with money laundering, focusing particularly on the duty to report.

Citation

Itzikowitz, A. (2000), "South Africa: Money Laundering — The Duty to Report under the Law", Journal of Financial Crime, Vol. 8 No. 2, pp. 186-190. https://doi.org/10.1108/eb025984