SA faces three-year slog to get off terror finance greylist
FATF watchdog wants eight strategic deficiencies to be removed by no later than end-January 2025
24 February 2023 - 13:23
UPDATED 26 February 2023 - 23:00
SA is likely to face a three-year slog to get itself removed from a global list of 25 countries deemed to have inadequate anti-money laundering and counterterrorist financing (AML/CFT) controls.
On Friday, the Financial Action Task Force (FATF), the Paris-based body that sets standards for combating illicit financial flows, said after its February 20-24 plenary meeting SA will now face increased monitoring for issues such as suspicious cross-border transactions and proliferation financing...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.