Greylisting: SA may yet pull a rabbit out of the hat, says Compli-Serve
The Paris-based Financial Action Task Force is to decide on February 24 and the outlook is not good
Compli-Serve, one of the country’s leading independent compliance advisories, says SA still faces a 60% likelihood of being greylisted before the end of February, even though two critical pieces of legislation were hurried through in late 2022.
President Cyril Ramaphosa signed into law two acts on December 30 in an effort to bolster the country’s ability to combat financial crime ahead of the Paris-based Financial Action Task Force’s (FATF) February 24 decision on whether to add SA to a greylist of countries deemed to have inadequate controls for anti-money laundering and combating the financing of terrorism...
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