Could a greylisted SA take a $38bn hit?
The law enforcement agencies need to step up if SA is to avoid being labelled lax on money laundering and terrorist financing. If they fail, trading with the rest of the world will become decidedly more difficult — and costlier
28 July 2022 - 05:00
It’s not cheap for a country to be considered lax on money laundering and terrorist financing. Ask Pakistan. Ever since its on-off greylisting by the Financial Action Task Force (FATF) in 2008, it has forgone billions of dollars in GDP — $38bn, in fact.
That, at least, is what Pakistan-based economic consultancy Tabadlab found in a research report released last year. ..
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