NT & FIC: Draft General Laws (AML/CFT) Amendment Bill 2025

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NT & FIC: Draft General Laws (AML/CFT) Amendment Bill 2025

• 20 January 2026
• Money Laundering
• South African Accounting Academy

Summary:
National Treasury has published the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2025 for public comment.

Article:
The due date for submitting public comments is 13 February 2026. 

The draft Bill is an updated version of the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2024 that was published for public comment on 13 December 2024 as conveyed in Government Notice No.  5683 in Government Gazette No. 51772. National Treasury subsequently expanded on the draft Bill to incorporate amendments related to non-governmental organisations (NGOs) and the conducting of lifestyle audits to continue strengthening the country’s AML/CFT system. These additions will better prepare the country for the next FATF Mutual Evaluation for South Africa that will commence in mid-2026 and conclude in October 2027.  

The draft Bill seeks to strengthen the country’s AML/CFT system by addressing the remaining deficiencies identified in the 2021 FATF Mutual Evaluation Report for South Africa, and also during the remedial process that culminated in South Africa exiting the FATF greylist in October 2025.  

The draft Amendment Bill was developed together with the Department of Trade, Industry and Competition, the Department of Social Development, the Financial Intelligence Centre, and financial sector regulators (Prudential Authority and Financial Sector Conduct Authority). It proposes amendments to four pieces of legislation that fall under the administrative responsibilities of different Ministers, namely:  

• the Financial Intelligence Centre Act, 2001: Minister of Finance; 
• the Financial Sector Regulation Act, 2017: Minister of Finance;  
• the Companies Act, 2008: Minister of Trade, Industry and Competition; and  
• the Nonprofit Organisations Act, 1997: Minister of Social Development

Refer to the media statement at https://www.fic.gov.za/wp-content/uploads/2026/01/National-Treasury-media-statement-–-General-Laws-Amendment-Bill-2025.pdf for a list of the sections of the above laws that would be amended in the draft Amendment Bill, if enacted.

This Draft Bill was conveyed in Government Notice No. 6997 in Government Gazette No. 53955 that was published on 14 January 2026. 

Click here to download the 34-page document:

https://www.fic.gov.za/wp-content/uploads/2026/01/Draft-General-Laws-AMLCTF-Amendment-Bill-2025.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• The Financial Intelligence Centre Act (FICA) is yet another piece of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
• As an auditor and independent reviewer, you need to consider amendments to legislation that are gazetted relating to FIC – specifically Money Laundering and Terrorism Financing Control legislation.

Relevance to Your clients:

• Relevant entities (specifically accountable institutions) have a duty to comply with the FIC Act, otherwise they could be held liable.
• Relevant entities should be aware of amendments to legislation that are gazetted relating to FIC – specifically Money Laundering and Terrorism Financing Control legislation.

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