The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
South Africa has made good progress in developing its system for combating money laundering (ML) and financing of terrorism (FT). The report provides a summary of the Anti- Money Laundering/Combating the Financing of Terrorism (AML/CFT) measures and also contains recommendations on how the AML/CFT system could be strengthened. South Africa has adopted mechanisms to freeze terrorist-related assets and also demonstrated a strong commitment to implementing AML/CFT systems, which have involved close cooperation and coordination between a variety of government departments and agencies. The country has established effective mechanism to combat ML and FT.