South Africa aims to exit the FATF greylist by October 2023. A National Treasury official noted that significant efforts are underway, with only two issues remaining to be resolved, emphasizing the nation’s commitment to enhancing its AML framework.
South Africa is optimistic about its removal from the Financial Action Task Force (FATF) greylist by October 2023. A National Treasury official indicated that significant efforts are currently being made to address the issues that led to the country being placed on the list, with only two outstanding items to resolve. This proactive approach underlines the government’s commitment to enhancing the nation’s anti-money laundering (AML) framework, ensuring compliance with global standards.
In conclusion, South Africa is diligently working towards exiting the FATF greylist by resolving the remaining issues in its regulatory framework. The government’s efforts reflect a strong commitment to compliance and improvement in anti-money laundering measures, aiming for completion by October 2023.
Original Source: www.amlintelligence.com
