Forty Shades of Grey Listing?
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The consensus is that South Africa is about to be ‘grey-listed’ by the international Financial Action Task Force, of which, ironically, it is a member. It’s not as if we weren’t warned. The FATF South African Mutual Valuation Report published in 2021 found that South Africa had yet to develop coordinated and holistic national anti-money laundering/combatting the financing of terrorism (AML/CFT) policies informed by ML/TF risks.
