Regulatory Alerts2022-04-22
South African National Terrorism Financing Risk Assessment
Issued by South Africa’s National Treasury and Financial Intelligence Centre, this Cabinet-approved assessment identifies the country's inherent terrorism financing risks to guide preventive measures across government and private sector entities. The report highlights cash flows, unregulated alternative remittance systems, porous borders, and exploited charities as primary vulnerabilities, while noting South Africa’s growing role as a regional logistical hub for foreign terrorist fighters. Aligning with Financial Action Task Force and United Nations standards, the assessment mandates enhanced due diligence for cross-border money transfers and non-profit organizations to mitigate exploitation by terrorist networks.
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