Treasury Extends Deadline for AML Amendment Bill Comments

Treasury has underscored that continued vigilance is essential to maintaining investor confidence, safeguarding financial stability and preventing illicit financial flows.

The National Treasury has extended the public comment period for the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2025, granting stakeholders an additional 30 days to submit written inputs.

The draft Bill, originally published on 14 January 2026, will now remain open for comment until 2 March 2026, following the publication of Government Notice No. 7141 in Government Gazette No. 54172 on 19 February 2026.

Strengthening South Africa’s AML/CFT Framework

The proposed legislation forms part of South Africa’s ongoing efforts to reinforce its Anti-Money Laundering and Combating Terrorism Financing (AML/CFT) regime.

According to National Treasury, the Bill seeks to address the remaining technical and effectiveness deficiencies identified in:

• The 2021 Financial Action Task Force (FATF) Mutual Evaluation Report

• The subsequent remedial action process undertaken during South Africa’s greylisting period

South Africa was placed on the FATF greylist in February 2023 after shortcomings were identified in its ability to investigate and prosecute complex financial crimes, including money laundering and terrorism financing.

Following the implementation of targeted reforms, legislative amendments and institutional strengthening measures, the country was officially removed from the greylist in October 2025.

Closing Remaining Gaps

Although delisted, authorities have emphasised the need to consolidate reforms and ensure full compliance with international standards to protect the integrity of the financial system.

The draft Amendment Bill aims to:

• Enhance regulatory oversight and enforcement mechanisms

• Close identified legal and supervisory gaps

• Improve coordination between law enforcement and supervisory bodies

• Strengthen compliance obligations across accountable institutions

Treasury has underscored that continued vigilance is essential to maintaining investor confidence, safeguarding financial stability and preventing illicit financial flows.

Public Participation Process

National Treasury has encouraged all interested parties — including financial institutions, legal practitioners, compliance professionals, civil society organisations and members of the public — to submit written comments before the revised deadline.

The draft Bill is available on the National Treasury website at www.treasury.gov.za.

Submissions must be sent to Commentdraftlegislation@treasury.gov.za by close of business on 2 March 2026.

The extension provides additional opportunity for stakeholders to shape the final legislation as government works to ensure South Africa’s AML/CFT framework remains aligned with global best practice.