South Africa: Money Laundering Regulation — The Way Ahead

Abstract

Money laundering is a problem not only in the world's major financial centres. Any country integrated into the international financial system is at risk. Increased efforts by authorities in the major offshore financial centres to combat money laundering provide an incentive to launderers to shift their activities to emerging countries. The sophisticated South African financial system as well as technological progress by financial institutions will undoubtedly further facilitate economic criminal activities.