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FATF GREYLIST EXIT IMMINENT?
- 17 June 2025
- National Treasury
- SA Legal Academy
South Africa could soon be removed from the international Financial Action Task Force (FATF) grey list of countries under increased monitoring, according to a FATF report published following last week’s plenary. Held on 13 June 2025 in Strasbourg, France, the plenary ‘made the initial determination that South Africa has substantially completed its action plan and warrants an on-site assessment to verify that the implementation of anti-money laundering and curtailing terrorist financing reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future’.
National Treasury has since issued a backdated media statement confirming this.
While the FATF report simply outlines the reforms made thus far, the National Treasury statement underscores their importance ‘given the legacy of state capture’ – during which, among other things , the country’s ‘law enforcement and prosecuting institutions were deliberately weakened’. In that context, the reforms concerned are expected to strengthen the fight against crime and corruption and contribute towards maintaining the integrity of South Africa’s financial system.
The FATF on-site assessment is expected to take place before the organisation’s October 2025 plenary.
- FATF report
- National Treasury statement
Published by SA Legal Academy Policy Watch
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