South Sudan's English Daily Newspaper
"We Dare where others fear"
By Awan Achiek
Cabinet on Friday passed the Anti-Money Laundering and Counter-Terrorism Financing Bill which aims to crack down on illicit financing, drug trafficking and terrorism financing.
The Minister of Information, Communication, Technology and Postal Services Michael Makuei Lueth, said the Anti-Money Laundering and Counter-Terrorism Financing Act 2012, Amendment Bill 2024 that was presented to cabinet by the Minister of Justice and Constitutional Affairs Reuben Madol Arol will criminalize money laundering in the country.
“This bill of course is a bill for fighting terrorism and those who finance terrorism, it was a bill which was passed in 2012, and this bill is now been amended in order to fit now within the development in the world in this area,” Makuei told journalists after the weekly cabinet meeting in Juba.
He said bill has been amended to fit within international standards set by the Financial Action Task Force (FATF).
FATF is the global money laundering and terrorist financing watchdog. It sets international standards that aim to prevent these illegal activities and the harm they cause to society.
Makuei disclosed that the bill will be tabled before the National Legislative Assembly for deliberation and enactment into law.
