Is the Republic of South Africa on the watchdog's grey-list chopping block? By Jemma Muller and Tyla Lee Coertzen The risk of South Africa being placed on the Financial Action Task Force’s (“FATF”) so-called “grey list” has been the subject of much debate and speculation, as well as a focal point for South African law … Continue reading Greyed-Out by FATF: Consequences and opportunities of potential grey-listing
The Glencore Case: Plea deal shows increased global use of Non-Trial Resolutions in cases of corruption and bribery
By Tyla Lee Coertzen Glencore International A.G (“Glencore”) and Glencore Ltd, major producers and marketers of commodities relating to mining and oil, have recently pleaded guilty to various allegations of bribery and corrupt activities in various jurisdictions. On 24 May 2022, the entities announced their resolutions concluded with authorities in the United States, the United … Continue reading The Glencore Case: Plea deal shows increased global use of Non-Trial Resolutions in cases of corruption and bribery
U.S. seeks to counter Russian influence in Africa
Currently pending in the United States Congress, specifically referred from the House of Representatives to the Senate as of today, is the so-called "Countering Malign Russian Activities in Africa Act" (H.R. 7311), which passed the House with 415 to 9 votes. The proposed law, which would require the Department of State to furnish an annual … Continue reading U.S. seeks to counter Russian influence in Africa
Africa & its “El Salvador Moment”: CAR adopts BTC as legal tender
As of spring 2022, two of the poorest nations on Earth have adopted Bitcoin -- the leading crypto-currency with the highest global market capitalization -- as legal tender, with the Central African Republic's parliament having voted on such a measure on April 21, 2022, which had been introduced by the poverty-stricken country's Minister of Digital … Continue reading Africa & its “El Salvador Moment”: CAR adopts BTC as legal tender
Corruption and Private Prosecutions in South Africa
By Chris Clifton, Jemma Muller and Tyla Lee Coertzen The recent reports by the Judicial Commission of Inquiry into Allegations of State Capture Report ("JCI Report”) and the investigation by the Special Investigating Unit into Covid-19-related procurement by State institutions (“SIU Report”) have implicated numerous parties, across both the private and public sphere, in allegations … Continue reading Corruption and Private Prosecutions in South Africa
Mauritius relieved from the European Union and FATF AML/CTF shackles
Nicola Taljaard & Joshua Eveleigh On the 22nd of December 2021 at the meeting of the European Commission College of Commissioners, a gathering was held for purposes of updating the European Commission’s anti-money laundering/combating terrorism financing list. At this meeting it was decided that, inter alia, Mauritius would be removed from the list of Third … Continue reading Mauritius relieved from the European Union and FATF AML/CTF shackles
South Africa: State Capture Report
Gina Lodolo and Nicola Taljaard On the 4 January 2022, Acting Chief Justice Raymond Zondo (“Zondo”) handed over Part 1 of the Judicial Commission of Inquiry (“Commission”) into State Capture[1] to President Cyril Ramaphosa, which was the first of three parts and contained the initial glimpse into the long-awaited results of his Inquiry into State … Continue reading South Africa: State Capture Report
The 2021 OECD Recommendation Influences South African National Prosecuting Authority to Consider Non-Trial Resolutions in Corruption Cases
By Michael-James Currie and Tyla Lee Coertzen The South African National Prosecuting Authority (“NPA”) recently confirmed that intends developing and implementing a policy for non-trial resolutions (“NTR”) particularly in matters involving foreign bribery and corruption. This follows a very important recommendation by the OECD titled the “2021 OECD Anti-Bribery Recommendation” (the “OECD Recommendation”). The NPA … Continue reading The 2021 OECD Recommendation Influences South African National Prosecuting Authority to Consider Non-Trial Resolutions in Corruption Cases
Cryptocurrency and Asset Recovery in South Africa
By Michael-James Currie and Jemma Muller It is well established that the use of cryptocurrency poses significant legal and regulatory challenges with regards to asset recovery. South Africa is no exception, as is evidenced by the recent scams involving Mirror Trading International and Africrypt. Cryptocurrencies are by nature designed to preclude regulatory control. Ownership is … Continue reading Cryptocurrency and Asset Recovery in South Africa
Special Tribunal orders former Transnet Executive to pay back R26.4m in secret profits, more predicted to follow
By Nicola Taljaard and Joshua Eveleigh On 31 of August 2021, Former Transnet Executive Linyenga Herbert Msagala (“Msagala”) was ordered to repay the amount of R26.4 million in ill-gained funds to his former employer after being found guilty of disgorging secret profits whilst managing Transnet Capital Projects. On this day, the Special Tribunal (“Tribunal”) reported … Continue reading Special Tribunal orders former Transnet Executive to pay back R26.4m in secret profits, more predicted to follow
Anti-Fraud & Corruption Law in Africa 