In October 2021, the Financial Action Task Force , an intergovernmental policy-making body combating all forms of money laundering and terrorism financing, published an evaluation of SA’s anti-money laundering measures.
The evaluation is a twofold assessment of the adequacy of SA’s legal framework and the efficiency with which legislation is implemented. The review did not go well. The published report outlined serious shortcomings in SA’s policies and efforts to combat money laundering and terrorist financing. Worryingly, the FATF has raised more serious concern about SA than it did about the United Arab Emirates , which was greylisted earlier in 2022.
For instance, global investors would already have been more cautious about their transactions with SA during the state capture era, rather than waiting for an adverse listing of the country by the FATF. Plainly speaking, many international investors would have already priced in the risk of transacting with and within the SA financial system.
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