South Africa has one more month to prove itself to the world

South Africa has until the end of October to prove to the global economic community that the country is secure in the mitigation of financial crime.

, the FATF outlined a handful of areas that needed a significant overhaul – the current non-compliant recommendations include:R8: Non-profit organisations

KPMG noted that South Africa is unlikely to avoid the listing unless various actions are taken. According to the company, supervisory authorities have, since December 2021, submitted notifications asking accountable institutions to proceed with remedial actions according to the FATF.

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