SA not likely to get the green light, Sim Tshabalala warns on greylisting
The Standard Bank CEO says SA will probably be added to a list that includes Syria, Haiti and Yemen due to deficiencies in its ability to combat financial crime
22 August 2022 - 11:08
UPDATED 22 August 2022 - 22:56
SA will very likely be greylisted despite efforts by the Treasury to prevent the country from joining the ranks of nations deemed to have inadequate protections against money laundering and terrorist financing.
That is the view of Standard Bank CEO Sim Tshabalala, who warned in July that SA’s potential greylisting by the Financial Action Task Force (FATF), an intergovernmental body that assesses countries’ ability to combat illicit financial activity, would be worse than a sovereign credit downgrade...
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