South Africa Holds Public Hearings on AML/CFT Amendment Bill Ahead of Next FATF Evaluation
South Africa’s Parliament held public hearings on 11 August 2026 on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill [B15–2026], a wide-ranging legislative package intended to strengthen the country’s AML/CFT framework ahead of its next FATF mutual evaluation.
The Standing Committee on Finance invited stakeholders and interested parties to make submissions on the Bill, which proposes amendments to the Close Corporations Act, Nonprofit Organisations Act, Financial Intelligence Centre Act, Companies Act and Financial Sector Regulation Act.
According to Parliament, the Bill is intended to address remaining deficiencies identified in South Africa’s 2021 FATF Mutual Evaluation Report as well as issues that arose during the remedial process that led to the country’s removal from the FATF grey list in October 2025. The government also expects the reforms to support a stronger outcome in the current FATF mutual evaluation cycle, which is due to conclude in October 2027.
Among the proposed changes are expanded information-sharing and investigative powers for the Financial Intelligence Centre, additional requirements relating to beneficial ownership information, stronger administrative enforcement powers, and explicit requirements for accountable institutions to consider money laundering, terrorist financing and proliferation financing risks arising from new delivery mechanisms and emerging technologies.
The Bill was introduced in Parliament in May 2026 and remains under legislative consideration. The public hearings therefore form part of the parliamentary process and do not mean the proposed amendments have become law.
The hearings are significant for AML professionals because they show that South Africa’s post-grey-list reform programme is continuing beyond formal removal from increased FATF monitoring. The proposed changes also illustrate how FATF mutual evaluations can continue to shape domestic AML/CFT legislation even after a jurisdiction exits the grey list.
