'We all could have moved faster' is becoming a fitting epitaph for a country that never moves until it is pushed.
‘We all could have moved faster’ is becoming a fitting epitaph for a country that never moves until it is pushedIt’s not every day that the National Treasury warns SA that the country
It’s clearly a cry for help. And if it isn’t, it should be, for the stakes could hardly be higher. Being greylisted would be comparable to a ratings downgrade in that it would raise the cost of transacting with SA. This would severely harm its economic competitiveness and international reputation. First, it plans to table an omnibus bill to push all the required legislative changes through parliament. At a minimum, SA needs to improve its rating to “largely compliant” on all six big technical issues identified by the FATF. But with parliament headed into recess until August, it’ll be a scramble to get it to pass the legislative amendments before year-end.
The Treasury admits that limited progress has been made in addressing many of the effectiveness measures. It wants “a co-ordinated and concerted effort” to improve the criminal justice system’s ability to tackle these financial crimes.
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EDITORIAL: National Treasury’s cry for help'We all could have moved faster' is becoming a fitting epitaph for a country that never moves until it is pushed
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EDITORIAL: National Treasury’s cry for help'We all could have moved faster' is becoming a fitting epitaph for a country that never moves until it is pushed.
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