Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
The South African anti-money laundering regulatory framework relevant to politically exposed persons
Dissertation (MPhil)--University of Pretoria, 2013.
Saved in:
| Other Authors: | |
|---|---|
| Format: | Thesis |
| Language: | English |
| Published: |
University of Pretoria
2013
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613721435570176 |
|---|---|
| access_status_str | Open Access |
| author2 | Du Plessis, Danie E. |
| author_browse | Du Plessis, Danie E. |
| author_facet | Du Plessis, Danie E. |
| collection | Thesis |
| dc_rights_str_mv | University of Pretoria |
| description | Dissertation (MPhil)--University of Pretoria, 2013. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/31985 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:40:38.899Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/31985 The South African anti-money laundering regulatory framework relevant to politically exposed persons Du Plessis, Danie E. cahlers@moonstonecompliance.co.za Ahlers, Christelle Money laundering Financial Intelligence Centre Act (FICA) South African anti-money laundering UCTD Financial Action Task Force (FATF) Risk based approach Politically exposed person (PEP) European Union (EU) Customer due diligence Corruption Anti-money laundering Dissertation (MPhil)--University of Pretoria, 2013. Politically exposed persons have become a specific risk factor in money laundering. The Financial Action Task Force has formulated clear and specific requirements for dealing with these individuals. Internationally, various jurisdictions such as the United Kingdom and the European Union have adopted effective legislation encompassing the 2003 Financial Action Task Force Recommendations. In South Africa the requirement to apply appropriate, risk based procedures to politically exposed persons has been limited to banks. The aim of this research study was to identify whether the South African anti-money laundering regulatory framework, adequately addresses managing the risks of politically exposed persons. The regulatory frameworks of the United Kingdom and the European Union, as well as the requirements of the Financial Action Task Force, were used to determine whether best practice is followed in South Africa with regard to politically exposed persons. The process of how money is laundered has been examined as well as the methods that corrupt politically exposed persons use in order to launder money. The study has shown that politically exposed persons are not regulated in South Africa in accordance with the Financial Action Task Force Recommendations issued in 2003, while the South African Anti-Money Laundering Regulatory Framework does not adequately address the risk posed by corrupt, politically exposed persons. Both international best practice and the recommendations of the World Bank were considered in terms of the way in which to address the risks posed by these persons effectively. Auditing unrestricted 2013-10-09T12:49:17Z 2013-10-09T12:49:17Z 2013 2013 Dissertation Ahlers, C. 2013, 'The South African anti-money laundering regulatory framework relevant to politically exposed persons', MPhil dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/31752> C13/9/784/gm http://hdl.handle.net/2263/31985 en University of Pretoria application/pdf University of Pretoria |
| spellingShingle | Money laundering Financial Intelligence Centre Act (FICA) South African anti-money laundering UCTD Financial Action Task Force (FATF) Risk based approach Politically exposed person (PEP) European Union (EU) Customer due diligence Corruption Anti-money laundering The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title | The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title_full | The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title_fullStr | The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title_full_unstemmed | The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title_short | The South African anti-money laundering regulatory framework relevant to politically exposed persons |
| title_sort | south african anti money laundering regulatory framework relevant to politically exposed persons |
| topic | Money laundering Financial Intelligence Centre Act (FICA) South African anti-money laundering UCTD Financial Action Task Force (FATF) Risk based approach Politically exposed person (PEP) European Union (EU) Customer due diligence Corruption Anti-money laundering |
| url | http://hdl.handle.net/2263/31985 |