EDITORIAL: In the hands of law enforcement agencies
Getting SA removed from the Financial Action Task Force greylist is no small task
30 October 2024 - 05:00
Despite all the effort that the National Treasury and other government agencies have put into getting SA removed from the Financial Action Task Force (FATF) greylist, the Treasury itself admits that there is a real risk that SA will not qualify for removal by June next year, the earliest hoped-for date.
The next possible date will be October, meaning the dark cloud hanging over SA’s international reputation will persist for longer. This has implications for cross-border and correspondent banking transactions, which come under greater scrutiny and at greater cost...
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