It remains questionable if South Africa can get off the greylist by 2024 according to government’s self-imposed deadline as it generally takes one to three years for countries to address the necessary deficiencies. 💵 Economy
It remains questionable if South Africa can get off the greylist by 2024 according to government’s self-imposed deadline as it generally takes one to three years for countries to address the necessary deficiencies.
The FATF identified eight areas of strategic deficiency that government must urgently attend to, to get off the greylist. “This will likely be the case in South Africa, an economy which is already stagnating and where further job losses cannot be afforded.” Demonstrate a sustained increase in outbound mutual legal assistance requests that help facilitate anti-money laundering and/or counter-terrorist financing investigations and confiscation of various types of assets in line with the country’s risk profile.
Illustrate a sustained increase in law enforcement agencies’ requests for financial intelligence from the Financial Intelligence Centre for investigations. Update the country’s Terrorist Financing Risk Assessment to inform the implementation of a comprehensive national counter-terror financing strategy.
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