Amid expectations that South Africa may be added to a global grey list this week, experts are warning that the cost of banking and investment will increase – along with other consequences. , a global body that monitors compliance with anti-money laundering and combatting terrorism financing measures, will decide on Friday. Some 39 countries – including South Africa – are part of the body.
Countries on the grey list are seen as not doing enough to stop money laundering or terror financing. While South Africa has rushed through new laws to deal with this perception in recent months, it may not have done enough to show that it is enforcing action against money laundering. Previously, the FATF found that South Africa failed to in all 11 of its measures to combat money laundering and the financing of terrorism.Get 14 days free to read all our investigative and in-depth journalism.