The Paris-based Financial Action Task Force is set to decide on SA’s possible greylisting on February 24 and the outlook is not good
Compli-Serve, a provider of advisory and compliance services to financial firms, says SA still faces a 60% likelihood of being greylisted before the end of February, despite two critical pieces of legislation being hurried through at the end of 2022.
President Cyril Ramaphosa signed into law two acts on December 30 in an effort to bolster the country’s ability to combat financial crime ahead of the Paris-based Financial Action Task Force’s February 24 decision on whether to add SA to a greylist of countries deemed to have inadequate controls around Anti-Money Laundering and Combating the Financing of Terrorism ...
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