Deputy Minister of Finance, Dr David Masondo, has reiterated to his counterparts in the United States of America (USA) that government is working hard to get South Africa out of the grey list. South Africa was grey listed by the FATF in February 2023 for not complying with international standards that relate to money laundering and addressing illicit financial flows.
Deputy Minister of Finance, Dr David Masondo, has reiterated to his counterparts in the United States of America (USA) that government is working hard to get South Africa out of the grey list . " are working together with Financial Action Task Force ( FATF ) and the United States as our important partner to combat illicit and terror finance, manage risks associated with that, and generate the necessary investor confidence in our country," Masondo said.
South Africa was grey listed by the FATF in February 2023 for not complying with international standards that relate to money laundering and addressing illicit financial flows. The FATF is the international standard-setting body that oversees global compliance with anti-money laundering rules. The FATF grey list refers to the FATF's practice of publicly identifying countries with strategic AML/CFT deficiencie
South Africa FATF Grey List Money Laundering Illicit Financial Flows
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