The estimation of SA being off the grey list by February 2025 is not realistic.
| Published 3h agoDeputy Finance Minister David Masondo has poured some cold water on reports that South Africa may get off theHe said that realistically South Africa can expect to be off the list by the end of October 2025.
Masondo is currently in the United Kingdom with a contingent of SA delegates that include Deputy President Paul Mashatile in order to woo investment into the country.Masondo told Business Day that South Africans need to get realistic about the timeline.When South Africa was placed on the grey list last year, the FATF identified 22 issues that government needed to address.
There are 14 items that still need to be addressed, said the deputy finance minister. He said eight items had been addressed and struck off FATF’s list., said that South Africa will have around five months to address the remaining 14 anti-money laundering deficiencies required by FATF. Ramokgopa said that she had received a fourth progress report from the Interdepartmental Committee on Anti-Money Laundering and Combating the Financing of Terrorism.Now, Masondo has emphasised that the 5-month timeline is not realistic and 14 items will not be addressed by February 2025.
“To be globally competitive the cost of doing business must come down, but greylisting leads to higher transactions because of the enhanced due diligence that’s required,” Masondo explained.tables his Medium-Term Budget Policy Statement.
United Kingdom David Masondo Greylisting Money Matters Business Finance Money Laundering Fraud
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