South Africa


  • Service: Advisory, Risk & Compliance
  • Industry: Financial Services
  • Type: Survey report
  • Date: 2013/06/27

2012 Africa Anti-Money Laundering Survey 

The level of interest by African banks in anti-money laundering (AML) has risen drastically, according to the KPMG Africa Anti-Money Laundering Survey 2012. The survey revealed that 66 percent of the main board of directors have prioritised AML issues, as banks work to comply with stricter global regulations.
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KPMG’s survey also found that the cost of compliance has increased over the past number of years. Due to challenges of managing the regulatory requirements of a number of jurisdictions, 95 percent of respondents indicated they had benchmarked their AML policies and procedures based on local regulations and global best practices.


Encouragingly, the survey shows that the vast majority of respondents believe that the current AML burden is acceptable and they want to work with regulators and law enforcement to make the system work more effectively.


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Tersia Rossouw
Head of Compliance & Monitoring
Tel: +27 082 719 0300