South Africa’s Companies and Intellectual Property Commission has announced that compulsory registration of trust and beneficial ownership (BO) will take effect on 1 April 2023.
This follows the country’s grey listing by the Financial Action Task Force (FATF) on 24 February 2023.
The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act places new obligations on companies and other persons to register prescribed information regard...