SOUTH AFRICA UPS ITS AML GAME TO GET OFF THE FATF GREY-LIST
September 22nd, 2023
South Africa, added to FATF’s grey list this February (2023) (1), is overhauling its AML regime to escape this listing and better address financial crime and terrorist financing in Africa’s largest economy. The country’s FIU, the Financial Intelligence Centre (FIC), is confident about progress and “optimistic” it will be removed from the Financial Action Task Force (FATF) grey-list before its next mutual evaluation review, maybe beginning next year (2024).
The country, which was last evaluated by FATF in October 2021, was designated a “jurisdiction ...
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