The purpose of this research is to discuss customer due diligence as a countermeasure against money laundering in South Africa. After setting out the meaning of and background to money laundering as financial crime, the discussion considers various anti-money laundering initiatives, such as South African statutes and international best practice. The latter serves as foundation to consider customer due diligence more closely, including an explanation of the risk-based approach and the manner in which customer due diligence is conducted. Conclusions are then drawn regarding the importance of customer due diligence, along with certain recommendations.
Mini Dissertation (LLM (Mercantile Law))--University of Pretoria, 2021.