TOWARDS EFFECTIVE CONTROL OF MONEY LAUNDERING IN SOUTHERN AFRICA

Money laundering, as both a manifestation and a facilitator of organised crime, has attracted increasing interest since the late 1980s. The resolve to control it has yielded a number of initiatives in many parts of the world. The formation of the Financial Action Task Force on Money Laundering in 1989 is a prominent example. In its wake, countries in eastern and southern Africa founded the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in 1999. Members of the group have pledged to adopt and implement measures against money laundering. This article explores the practical implications of implementing such measures in Southern Africa against the background of certain challenges and realities. It is based on a survey of the nine Southern African members of the ESAAMLG.