General Laws Amendment Bill 2025 - Public Comment on AML/CFT Reforms

South Africa's National Treasury has published the draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2025 for public comment through Government Gazette No. 53955. The Bill proposes amendments to four pieces of legislation including the Financial Intelligence Centre Act, Financial Sector Regulation Act, Companies Act, and Nonprofit Organisations Act to address AML/CFT deficiencies identified in the 2021 FATF Mutual Evaluation Report. Public comments are due 13 February 2026.

South Africa Exits FATF Grey List After 32 Months

The Financial Intelligence Centre announced South Africa's removal from the FATF grey list on 24 October 2025, ending 32 months of increased monitoring that began in February 2023. The removal follows successful remediation of deficiencies identified in the 2019 mutual evaluation, including enhanced DNFBP supervision capabilities and improved law enforcement collaboration. South Africa now prepares for its fifth round of mutual evaluations scheduled for 2026 to 2027.

FIC 2024-25 Annual Report: Grey List Progress and Clean Audit

The Financial Intelligence Centre (FIC) released its 2024-25 annual report demonstrating continued progress in combating financial crime in South Africa. The report highlights that 55,262 registered institutions submitted over 13.4 million regulatory reports, contributing to approximately R144 million in recovered criminal proceeds. A FATF review team completed an on-site assessment in July 2025 to verify AML/CFT reforms, with a decision on South Africa's potential grey list exit expected at the October 2025 FATF plenary.

Directive 11 of 2026: 2026 Risk and Compliance Return Submission Requirements

The South African Financial Intelligence Centre (FIC) issued Directive 11 of 2026 on March 31, 2026, mandating specified accountable institutions to submit their 2026 Risk and Compliance Return (RCR) electronically. The submission window opens May 4, 2026 and closes either June 30 or July 31, 2026 depending on the institution category. The directive requires completion of a self-assessment questionnaire covering ML, TF, and PF risks across three reporting years.

UK International Reserves - March 2026 Data

The Bank of England published its monthly UK International Reserves data for March 2026, reporting on the UK's official holdings of foreign currencies, gold, IMF special drawing rights, and reserves tranche position at the IMF. The data includes foreign currency liquidity information published alongside Bankstats tables. This is a routine monthly statistical release following the IMF's international reserves template.

Rise of Dynamic Personalised Pricing and Inflation Impact

The Bank of England's April 2026 Insights article examines how big data, artificial intelligence, and digital platforms are enabling more dynamic and personalised pricing across the economy. The analysis finds that despite widespread adoption in sectors like hospitality, these algorithmic pricing practices have not yet led to systematically higher or lower inflation. The article discusses implications for businesses, consumers, and policymakers, noting that future outcomes will depend on competition intensity and data availability.

Schneiderman v. American Chemical Society - Diversity Jurisdiction

The Second Circuit affirmed the dismissal of a disability discrimination lawsuit against the American Chemical Society, holding that 28 U.S.C. § 1332(c)(1)'s principal-place-of-business provision does not independently establish diversity jurisdiction for federally chartered corporations. The court ruled that such corporations, not incorporated under any state's laws, cannot establish diversity jurisdiction under the statute's plain text and Congress's intent to narrow diversity jurisdiction.

United States v. Goklu - Bitcoin Money Laundering Conviction Affirmed

The Second Circuit affirmed Mustafa Goklu's conviction for money laundering and operating an unlicensed money transmitting business based on bitcoin-for-cash exchanges. The court rejected challenges to jury empanelment, sufficiency of evidence, and jury instructions, holding that exchanging bitcoin for cash constitutes 'money transmitting' under federal law. Goklu's sentencing challenges were dismissed as moot since he completed his term of imprisonment.

In re: Kwok - Alter Ego Claim Affirmed in Bankruptcy Appeal

The Second Circuit affirmed that a Chapter 11 Trustee has standing to assert alter-ego claims on behalf of bankruptcy estate creditors. The court upheld the lower courts' conclusion that HK International Funds Investments (USA) Limited was the debtor's alter ego, meaning HK's assets belong to the bankruptcy estate of Ho Wan Kwok, a self-declared multi-billionaire. The ruling reinforces that bankruptcy courts may pierce the corporate veil to include alter-ego entities' assets in the estate.

Cruz v. Banks - Special Education Placement Affirmed

The Second Circuit affirmed the district court judgment in Cruz v. Banks, holding that the New York City Department of Education did not violate IDEA when it placed student O.F. in a 12:1:4 classroom. The court adopted the New York Court of Appeals ruling that 8 N.Y.C.R.R. § 200.6(h)(4) provides alternative placements rather than stacking requirements for students with disabilities and intensive management needs.