It seems South Africa is crawling back into the good books of the Financial Action Task Force (FATF), which unceremoniously put the country on its greylist a year ago. But South Africa is unlikely to have made sufficient progress to warrant reclassification before 2025.

In February 2023 the FATF placed South Africa on its greylist due to deficiencies in technical compliance and its inability to combat money laundering and the financing of terrorism. Greylisting has a reputational and economic impact — it can hamper a country’s ability to access international financial markets, discourage foreign investment, increase the cost of doing business and increase scrutiny from financial institutions and regulators. ..

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