_________________________________________________________
US State Dept Narcotics Report 2011 (introduction):
No report available
_________________________________________________________
US State Dept Trafficking in Persons Report 2011 (introduction):
(Tier 2)
Swaziland is a source, destination, and transit country for women and
children subjected to sex trafficking, domestic servitude, and forced
labor in agriculture. Swazi girls, particularly orphans, are subjected to
sex trafficking and domestic servitude in the cities of Mbabane and
Manzini, as well as in South Africa and Mozambique. Swazi boys are
exploited within the country through forced labor in commercial
agriculture and market vending. Some Swazi women are forced into
prostitution in South Africa and Mozambique after voluntarily migrating to
these countries in search of work. Traffickers reportedly force
Mozambican women into prostitution in Swaziland, or transit Swaziland
with their victims en route to South Africa. Mozambican boys migrate to
Swaziland for work washing cars, herding livestock, and portering; some
of these boys subsequently become victims of forced labor.
The Government of Swaziland does not fully comply with the minimum
standards for the elimination of trafficking; however, it is making
significant efforts to do so. Over the last year, the government displayed
steady progress in its investigation and prosecution of suspected
trafficking offenses, formation and training of trafficking-specific
emergency response teams, and effective utilization of the Anti-Human
Trafficking Task Force to coordinate interagency efforts. Despite these
recent improvements, anti-trafficking training is needed to ensure the
proper interpretation and effective implementation of the 2009
anti-trafficking law and sustain continued progress.
For full report click here
_________________________________________________________
US State Dept Terrorism Report 2009
No report available
_________________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
US State Dept Narcotics Report 2011 (introduction):
No report available
_________________________________________________________
US State Dept Trafficking in Persons Report 2011 (introduction):
(Tier 2)
Swaziland is a source, destination, and transit country for women and
children subjected to sex trafficking, domestic servitude, and forced
labor in agriculture. Swazi girls, particularly orphans, are subjected to
sex trafficking and domestic servitude in the cities of Mbabane and
Manzini, as well as in South Africa and Mozambique. Swazi boys are
exploited within the country through forced labor in commercial
agriculture and market vending. Some Swazi women are forced into
prostitution in South Africa and Mozambique after voluntarily migrating to
these countries in search of work. Traffickers reportedly force
Mozambican women into prostitution in Swaziland, or transit Swaziland
with their victims en route to South Africa. Mozambican boys migrate to
Swaziland for work washing cars, herding livestock, and portering; some
of these boys subsequently become victims of forced labor.
The Government of Swaziland does not fully comply with the minimum
standards for the elimination of trafficking; however, it is making
significant efforts to do so. Over the last year, the government displayed
steady progress in its investigation and prosecution of suspected
trafficking offenses, formation and training of trafficking-specific
emergency response teams, and effective utilization of the Anti-Human
Trafficking Task Force to coordinate interagency efforts. Despite these
recent improvements, anti-trafficking training is needed to ensure the
proper interpretation and effective implementation of the 2009
anti-trafficking law and sustain continued progress.
For full report click here
_________________________________________________________
US State Dept Terrorism Report 2009
No report available
_________________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
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Sanctions:
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Swaziland is not considered a regional financial center. An in-
country crime syndicate controls the sale or trade in dagga
(marijuana), the proceeds of which may be laundered in
Swaziland. There is a general belief that trade-based money
laundering exists in Swaziland. There is suspicion that some retail
shops are used for laundering money because there is no cash
declaration between Swaziland and South Africa. There is also
suspicion that cash gained from the sale of marijuana or hard
drugs is used to buy goods for retail outlets and to build houses
on non-titled land. The country is experiencing an increase in
financial crimes related to fraud, as well as pyramid schemes.
There is a significant black market for smuggled goods such as
cigarettes, liquor, and pirated radio cassettes, videocassettes,
and DVDs between Mozambique, South Africa and Swaziland.
The smuggling of illegal goods is not funded by narcotics
proceeds or other illicit proceeds.
Swaziland has not successfully prosecuted money laundering or
terrorist financing cases; however, laws have been put in place to
regulate anti-money laundering procedures.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: NO
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, securities, real estate brokers,
cooperatives, provident fund managers, insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: YES
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, insurance companies and pension funds
Number of STRs received and time frame: 0
Number of CTRs received and time frame: Three in the last three
years
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 0
Convictions: 0
Assets forfeited: criminally: Not available civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: NO
With other governments/jurisdictions: YES
Swaziland is a member of the Eastern and Southern Africa Anti-
Money Laundering Group (ESAAMLG), a Financial Action Task
Force-style regional body. Swaziland has not yet been subject to
a mutual evaluation.
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
Swaziland has taken several important steps to establish an anti-
money laundering/counter-terrorist financing (AML/CFT) regime.
However, the slow process of the law and lack of training hamper
the government’s ability to enforce the Money Laundering Act.
The Financial Services Regulation Act became law in June 2010,
but regulations have not yet been produced for the
implementation of this law.
The Common Monetary Area (CMA) provides a free flow of funds
among the four member countries with no exchange controls.
Countries signatory to the CMA are South Africa, Swaziland,
Lesotho and Namibia. Cash smuggling reports are shared
between host government agencies on an informal basis. There
are no laws making the sharing mandatory.
The Anti-Corruption Unit and the police’s Surveillance and
Commercial Fraud Section deal with money laundering crimes.
The section is not adequately staffed. The Government of the
Kingdom of Swaziland (GOKS) should take steps to improve the
capacity and coordination between the police and the Anti-
Corruption Commission. The GOKS should establish a financial
intelligence unit (FIU).
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Swaziland is not considered a regional financial center. An in-
country crime syndicate controls the sale or trade in dagga
(marijuana), the proceeds of which may be laundered in
Swaziland. There is a general belief that trade-based money
laundering exists in Swaziland. There is suspicion that some retail
shops are used for laundering money because there is no cash
declaration between Swaziland and South Africa. There is also
suspicion that cash gained from the sale of marijuana or hard
drugs is used to buy goods for retail outlets and to build houses
on non-titled land. The country is experiencing an increase in
financial crimes related to fraud, as well as pyramid schemes.
There is a significant black market for smuggled goods such as
cigarettes, liquor, and pirated radio cassettes, videocassettes,
and DVDs between Mozambique, South Africa and Swaziland.
The smuggling of illegal goods is not funded by narcotics
proceeds or other illicit proceeds.
Swaziland has not successfully prosecuted money laundering or
terrorist financing cases; however, laws have been put in place to
regulate anti-money laundering procedures.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: NO
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, securities, real estate brokers,
cooperatives, provident fund managers, insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: NO
Domestic: YES
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, insurance companies and pension funds
Number of STRs received and time frame: 0
Number of CTRs received and time frame: Three in the last three
years
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 0
Convictions: 0
Assets forfeited: criminally: Not available civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: NO
With other governments/jurisdictions: YES
Swaziland is a member of the Eastern and Southern Africa Anti-
Money Laundering Group (ESAAMLG), a Financial Action Task
Force-style regional body. Swaziland has not yet been subject to
a mutual evaluation.
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
Swaziland has taken several important steps to establish an anti-
money laundering/counter-terrorist financing (AML/CFT) regime.
However, the slow process of the law and lack of training hamper
the government’s ability to enforce the Money Laundering Act.
The Financial Services Regulation Act became law in June 2010,
but regulations have not yet been produced for the
implementation of this law.
The Common Monetary Area (CMA) provides a free flow of funds
among the four member countries with no exchange controls.
Countries signatory to the CMA are South Africa, Swaziland,
Lesotho and Namibia. Cash smuggling reports are shared
between host government agencies on an informal basis. There
are no laws making the sharing mandatory.
The Anti-Corruption Unit and the police’s Surveillance and
Commercial Fraud Section deal with money laundering crimes.
The section is not adequately staffed. The Government of the
Kingdom of Swaziland (GOKS) should take steps to improve the
capacity and coordination between the police and the Anti-
Corruption Commission. The GOKS should establish a financial
intelligence unit (FIU).
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| SWAZILAND |
| KnowYourCountry |
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| Last Updated: 16 April 2012 |