KHAYA SITHOLE: Test of laws to avert greylisting is a huge hurdle
Even if omnibus bill is passed in a hurry proving it is effective by February will be difficult
08 December 2022 - 05:00
Just over 20 years ago SA’s commitment to addressing money laundering and illicit financial flows was stamped into law through the adoption of the Proceeds of Crime Act and the Financial Intelligence Centre Act.
These two laws, which focus on preventing organised crime and establishing proactive vigilance over the country’s financial ecosystem, were regarded as progressive enough to earn SA membership of the rather exclusive Financial Action Task Force (FATF) in 2003...
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