Implementing Procedures

The Implementing Procedures are issued in terms of Regulation 17 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and are binding on all persons carrying out relevant financial business or relevant activity from the date they are issued.

The main purpose of these Implementing Procedures is to provide guidance to subject persons in their implementation of the rules set out in the PMLFTR. In so doing, the Implementing Procedures assist subject persons to better understand and fulfil their obligations under the PMLFTR, ensuring an effective and harmonised implementation of the salient provisions.

Part I


The Implementing Procedures are divided in two parts. Part I is applicable to all sectors and Part II applies to each sector specifically. The Implementing Procedures may, from time to time, be amended to ensure that they remain harmonised with amendments to legislation and other material developments originating from changes in international standards. Subject persons should, therefore, ensure that they always refer to the most recent version.

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