Anyone who read page 167 of the Budget Review last week wouldn’t have been surprised to see that South Africa is still on the greylist of the Financial Action Task Force (FATF). The question is, for how much longer will this be the case?

The Budget Review held out little hope of near-term relief despite noting that 15 of the 20 deficiencies have been rerated as no longer deficient. But, and again here’s no surprise, the National Treasury document said the major problem continued to be lack of effectiveness in dealing with financial crimes; no-one ends up in jail...

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