This Report on the Observance of Standards and Codes for the FATF 40 Recommendations and 9 Special Recommendations on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) was prepared by the Financial Action Task Force. The report provides a summary1 of the AML/CFT measures in place in South Africa as of the time of the on-site visit (4-15 August 2008), and shortly thereafter, the levels of compliance with the FATF 40+9 Recommendations, and contains recommendations on how the AML/CFT system could be strengthened. The views expressed in this document have been agreed by the FATF and South Africa, but do not necessarily reflect the views of the Board of the IMF and World Bank.