Story perspectives

COSATU Urges Fast-Track of Anti-Money Laundering Bill

8/13/2026

Summary

Story summary

COSATU urged Parliament on Tuesday to fast-track the Anti-Money Laundering and Combating Terrorism Financing Amendment Bill.
Coordinator Matthew Parks warned South Africa cannot be complacent before Financial Action Task Force (FATF) review in October 2027.
The amendment would tighten monitoring of suspicious transactions and let the Financial Intelligence Centre (FIC) conduct lifestyle audits.
Parks urged the October Medium-Term Budget to fund the Financial Intelligence Centre, police and National Prosecuting Authority.

1 of 1

Story summary

COSATU urged Parliament on Tuesday to fast-track the Anti-Money Laundering and Combating Terrorism Financing Amendment Bill.
Coordinator Matthew Parks warned South Africa cannot be complacent before Financial Action Task Force (FATF) review in October 2027.
The amendment would tighten monitoring of suspicious transactions and let the Financial Intelligence Centre (FIC) conduct lifestyle audits.
Parks urged the October Medium-Term Budget to fund the Financial Intelligence Centre, police and National Prosecuting Authority.