Greylisting ‘would be worse than a downgrade’
Financial services experts warn of system-wide effects of sanction by the Financial Action Task Force and its impact on the economy in general
11 September 2022 - 09:19
The Banking Association South Africa (BASA) has warned that the country’s inclusion on the Financial Action Task Force (FATF) grey list would be worse than an investment downgrade.
BASA MD Bongiwe Kunene told Business Times that greylisting would make it difficult for international investors to bring funds into SA because any bank dealing with such funds would be subjected to enhanced due diligence...
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