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GREYLISTING: NATIONAL TREASURY UPDATE
- 02 March 2024
- National Treasury
- SA Legal Academy
A media statement recently issued by National Treasury has unpacked the latest international Financial Action Task Force (FATF) report on progress made by South Africa in addressing ‘22 action items linked to … strategic deficiencies’ identified in the country’s anti-money laundering and combating terrorism financing regime. The report was adopted at last month’s FATF plenary but, at the time of writing, was not electronically available.
According to Treasury’s statement, five of the action items concerned ‘now addressed or largely addressed’ relate to:
- ‘legal provisions criminalising terrorist financing and underpinning South Africa’s targeted financial sanction regimes … (for dealing with) terrorism financing and proliferation financing’
- ‘increasing the use of financial intelligence … to support money laundering investigations’, and
- ‘increasing the resources of anti-money laundering and combating terrorist financing supervisors’.
In addition, two further action items previously not addressed ‘have now been partly addressed’ – bringing the total of partly addressed outstanding action items to 14 out of 17.
The statement goes into considerably more detail than most mainstream media articles published when it was issued.
- National Treasury media statement
Published by SA Legal Academy Policy Watch