Public Comments Invited on General Laws (AML and CTF) Amendment Bill [B15-2026]

Posted 31 July 2026 Written by Acts Online
Category Financial Advisory & Intermediary Services

Brought to you by SA Accounting Academy: Parliament has opened public consultation on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill [B15-2026], which was formally introduced on 27 May 2026 following prior notice and an explanatory summary published on 17 April 2026.

The proposed legislation aims to address remaining deficiencies in South Africa’s Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) regulatory regime following the country’s exit from the Financial Action Task Force (FATF) greylist in October 2025. The statutory amendments seek to strengthen compliance alignment ahead of FATF’s next Mutual Evaluation, which concludes in October 2027.

Key Statutory Objectives

  • Address outstanding technical recommendations identified in FATF Mutual Evaluation Reports.
  • Consolidate legislative remedies enacted during the post-greylisting remediation process.
  • Enhance statutory enforcement mechanisms for accountable institutions and regulatory authorities.

Public comments on the draft Bill must be submitted on or before 10 August 2026.

Click here to download the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill [B15-2026].

What this means for you, your business, or your clients

  • For yourself: Review the proposed statutory amendments in Bill [B15-2026] to identify pending changes in professional compliance and reporting duties under statutory AML/CFT rules.
  • For your business: Audit your practice’s risk management and compliance programs (RMCP) against expected legislative changes before the 10 August 2026 submission deadline to prepare internal systems for implementation.
  • For your clients: Advise designated client entities and accountable institutions on potential legislative shifts affecting customer due diligence and ultimate beneficial ownership disclosure mandates.

Originally published at https://accountingacademy.co.za/news/read/general-laws-aml-and-ctf-amendment-bill

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