The Financial Action Task Force greylisted SA in February 2023, due to its failure to comply with FATF standards and measures.
The Financial Action Task Force concluded its on-site assessment of South Africa during the last week of July, the last step before the October 2025 Plenary can consider whether to remove South Africa from its grey list.
The FATF is an intergovernmental body established to protect financial systems and the broader economy from threats of money laundering and the financing of terrorism. “The logical consequence is detrimental to South Africa’s international reputation as it is seen as a high-risk jurisdiction for financial transactions, making countries hesitant to engage in financial and law enforcement cooperation.”South Africa had to upgrade its anti-money laundering and counterterrorism laws and regulations, implement improved supervision of financial institutions and enhance the country’s ability to investigate and prosecute money laundering and terrorism cases.
The FATF decision noted that South Africa’s progress warrants an on-site assessment to verify that critical reforms, including anti-money laundering and the combating of the financing of terrorism reforms, have been implemented and that the necessary political commitment remains in place to sustain progress.
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