FSCA confident South Africa will exit FATF greylist this year

Edward West

The Financial Services Conduct Authority (FSCA) is confident South Africa will be brought off the 40-country member Financial Action Task Force (FATF) greylist this year and will clear the hurdle of a new evaluation next year, delegates at the FSCA Industry conference heard on Wednesday. South Africa was placed on the FATF greylist in February 2023 due to deficiencies in its anti-money laundering (AML) and counter-terrorism financing (CTF) frameworks. Ismail Momoniat, from the National Treasury and has been actively involved in addressing these issues, said at the conference that in a sense the greylisting was good thing in that "it forced us to do things that are good for South Africa." Significant changes were also made at the FSCA to help address the deficiencies that were identified by the FATF.…

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Star South Africa (Digital) - 1 Issue, 2025-03-20

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