SA is sorting out legislative deficiencies to avoid greylisting
The cabinet has approved the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill
21 August 2022 - 15:42
SA is well on track to address all the legislative deficiencies identified by the Financial Action Task Force (FATF) in its October 2021 report, which evaluated the country’s measures against money laundering and the financing of terrorism.
This is key if SA is to avoid a greylisting by the FATF, an international body that establishes standards for the combating of money laundering and the financing of terrorism, when it meets in February. Greylisting will have dire consequences for the economy and in particular the financial sector...
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