EDITORIAL: Greylisting — subtle balance needed as SA makes changes
22 August 2022 - 05:05
The Treasury needs to strike a careful balance as it legislates to comply with international standards for the combating of money laundering and terrorism financing.
On one hand it must extend the reach of the legislation far enough to cover all high-risk players and ensure SA stays off the greylist. On the other, extending the reach of the legislation too far could impose onerous and costly obligations on businesses which could impact on consumers without necessarily improving outcomes for the authorities...
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