South Africa and the United States have committed to working together to combat illicit financial flows. This emerged at a short media briefing in Pretoria early on Wednesday, hosted by Deputy Minister of Finance David Masondo and US Deputy Secretary for Treasury Wally Adeyemo.
South Africa and the United States have committed to working together to combat illicit financial flows. This emerged at a short media briefing in Pretoria early on Wednesday, hosted by Deputy Minister of Finance David Masondo and US Deputy Secretary for Treasury Wally Adeyemo. Masondo says the government is dealing with impediments such as greylisting that deter investment into the country.
South Africa has been grey-listed by global financial crime watchdog the Financial Action Task Force for not fully complying with international standards around the prevention of money laundering, terrorist financing and proliferation financing. “It is for this reason that as this government, since President Ramaphosa took over, we have been sorting out our institutions, SARS, NPA and a number of them, so that we are able to combat terror finance; we are able to combat illicit finance, and other forms of corruption in our country. Because it is under those circumstances that investors would be comfortable to invest in our country,” says Masond
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