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The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime
Mini Dissertation (LLM)--University of Pretoria, 2019.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2020
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| _version_ | 1867613716169621504 |
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| access_status_str | Open Access |
| author2 | Brits, Reghard |
| author_browse | Brits, Reghard |
| author_facet | Brits, Reghard |
| collection | Thesis |
| dc_rights_str_mv | © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (LLM)--University of Pretoria, 2019. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/72990 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:40:33.839Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| 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:2263/72990 The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime Brits, Reghard rynhard.botha@resbank.co.za Botha, Rynhard Anti-Money Laundering and Counter-Terrorism Financing UCTD Mini Dissertation (LLM)--University of Pretoria, 2019. The purpose of this mini-dissertation is to analyse and establish the potential money laundering and terrorism financing risks and implications of virtual currencies on the prevalent South African regulatory and supervisory architecture. The South African financial system is exceedingly regulated and supervised to ensure that it is prudent and reputable, and to enhance the safety and soundness thereof. Recently, technological innovations and developments have created immense issues especially from a financial regulatory and supervisory perspective. Financial technology has produced mysterious phenomena such as blockchain, insuretech, crowdfunding and virtual currencies. Presently, virtual currencies, which will be the focus of this study, do not fall within the ambits of the South African financial regulatory or supervisory regime and have thus created a regulatory arbitrage. This poses a significant number of risks and implications to the South African context, namely tax evasion; crossborder illicit flow of funds; contravention of exchange control regulations; financial instability; monetary policy uncertainty; inaccurate economic statistics; non-reporting of balance of payment requirements; and money laundering and terrorist financing (ML/TF). The study aims to construct a clear description and categorisation of virtual currencies within a South African context. Secondly, the study will set out the risks and implications that virtual currencies pose to the South African financial system from a ML/TF perspective. Finally, the study will present a possible solution to close the current regulatory arbitrage presented by virtual currencies in the South African financial sector. Mercantile Law LLM Banking Law Unrestricted 2020-01-28T09:36:14Z 2020-01-28T09:36:14Z 2020-04-09 2019 Mini Dissertation Botha, R 2019, The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime, LLM Banking Law Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/72990> A2020 http://hdl.handle.net/2263/72990 en © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | Anti-Money Laundering and Counter-Terrorism Financing UCTD The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title | The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title_full | The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title_fullStr | The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title_full_unstemmed | The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title_short | The potential anti-money laundering and counter-terrorism financing risks and implications of virtual currencies on the prevailing South African regulatory and supervisory regime |
| title_sort | potential anti money laundering and counter terrorism financing risks and implications of virtual currencies on the prevailing south african regulatory and supervisory regime |
| topic | Anti-Money Laundering and Counter-Terrorism Financing UCTD |
| url | http://hdl.handle.net/2263/72990 |