South Africa seeks to leave the FATF greylist by October, with major work underway to resolve identified compliance issues. Only two items remain to be fixed as part of this effort.

South Africa is targeting a removal from the Financial Action Task Force (FATF) greylist by October this year, as stated by a National Treasury Official. Significant actions are currently in progress to address previously identified issues, with just two items left to resolve. This initiative underscores the country’s commitment to enhancing its compliance with international anti-money laundering standards.

In summary, South Africa is actively working towards exiting the FATF greylist by addressing compliance issues. The completion of the remaining two tasks is crucial for achieving this goal and demonstrates the government’s dedication to improving its financial regulatory framework.

Original Source: www.amlintelligence.com