South Africa had only addressed five of the 23 action items it needs to tick off before it can exit the Financial Action Task Force’s (FATF) grey list, the watchdog said on Friday.
The FATF said SA must still show it can implement a modern and comprehensive strategy to counter the financing of terrorism. SA must also do more to curb money laundering and show it can investigate and prosecute complex financial crimes.
The grey list is an index of the two dozen or so countries that are not fully compliant with international anti-money laundering and terrorist financing standards.
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