US cracks down on SA-linked money laundering and terrorism financing
The move could be bad news for the push to be removed from the Financial Action Task Force’s greylist
25 April 2023 - 21:14
Entities and individuals in SA have been identified by the US Treasury department as being involved in a “vast international money-laundering and sanctions network” of 52 individuals and entities operating in several countries.
The inclusion of SA as one of the bases for the network could be bad news for its push to be removed from the greylist of the Financial Action Task Force (FATF). FATF, which sets international standards for the combating of money laundering and terrorism financing, placed SA on its greylist earlier this year due to deficiencies in its law enforcement of these crimes...
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