Reporting obligations: A challenge for South African lawyers.

Magister Legum - LLM“Threats to the independence of the legal profession have become a preoccupation for bar leaders, regulators and academics, driven by the dual pressures of globalization and the changing business structure of the profession.”1 Money laundering is a transnational economic crime that has plagued the world economy for many decades. It is a crime that eluded the attention of most world leaders. Hence, it is this elusiveness and this non-interest in money-laundering as a serious economic crime, that afforded many individuals such as former dictators and military leaders in developing countries the chance to avoid prosecution for depleting the economic resources of their particular state.