SA's efforts to avoid grey listing may not be enough to satisfy FATF, says Godongwana
CAPE TOWN - It’s D-day for South Africa as to whether it will join the Financial Action Task Force’s notorious grey list.
On Wednesday, Finance Minister Enoch Godongwana prepared the country for the worst when he delivered his second budget address.Parliament passed two laws to meet the stringent requirements of the FATF and to avoid the international community cutting South Africa off from cross-border trade. “If you ask me, my gut feel is that I don’t think we’ve ticked 100%. We are probably sitting at 85%. They may then say: guys, we are giving you the following timelines. Get your act in order.”
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