The National Assembly’s Standing Committee on Finance has invited stakeholders and interested parties to submit written comments on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill.
The deadline for submissions is 12pm on Monday, 10 August 2026. Public hearings on the Bill will be held via Zoom on Tuesday, 11 August 2026.
Stakeholders who want to make oral submissions at the public hearings must specifically request this.
The Bill proposes amendments to five statutes:
- the Close Corporations Act;
- the Nonprofit Organisations Act;
- the Financial Intelligence Centre Act (FICA);
- the Companies Act; and
- the Financial Sector Regulation Act (FSRA).
According to Parliament’s call for submissions, the Bill is intended to strengthen South Africa’s anti-money laundering and combating terrorism financing (AML/CFT) system by addressing remaining deficiencies identified in the Financial Action Task Force’s 2021 Mutual Evaluation Report and during the remedial process that culminated in South Africa exiting the FATF grey list in October 2025.
The amendments are also intended to help South Africa secure a better rating in the current FATF mutual evaluation, which is due to conclude in October 2027.
Written submissions on the Bill must be sent to the committee secretaries, Mr Allan Wicomb at awicomb@parliament.gov.za and Ms Teboho Sepanya at tsepanya@parliament.gov.za, by the deadline.
Previous Moonstone coverage:
- Draft AML/CFT amendment Bill tightens regulatory net
- Draft amendments aim to remedy gaps in AML framework
- MPs query whether tougher AML laws are solving the problem
