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.
This report provides a summary of the level of observance with the financial assessment task force recommendations and recommendations to strengthen observance. South Africa has developed a comprehensive legal structure to combat money laundering. The financial intelligence unit and other supervisory and investigative bodies appear adequately staffed and genuinely committed to implementing the new system. However, many of these measures are new and have not yet been fully put into effect, and all sectors will continue to increase attention and training on antimoney-laundering issues.