EDITORIAL: Greylisting has done more good than harm
FATF has helped ensure SA hasn’t become a haven for money-launderers and financiers of terrorism
SA’s greylisting by the Financial Action Task Force (FATF) in February 2023 certainly had negative consequences for the country’s reputation, investor confidence and the cost of doing business, but at the end of the day it has been a good thing for the improvement of our legislative, supervisory and prosecutorial regimes.
The National Treasury says it remains confident SA will be removed from the greylist by October, having already met all but two of the 22 action requirements imposed by FATF. The intergovernmental organisation, which sets international standards for global compliance with anti-money-laundering and antiterrorist financing rules, says the two outstanding items have been partly addressed. ..
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