The National Treasury hopes to reduce the prospects of greylisting by the Financial Action Task Force by urgently tabling an omnibus of legislation, but acknowledges that it"will have to perform a few miracles" to succeed.
The FATF is the global money-laundering and terrorist financing watchdog, which sets international standards and assesses technical compliance, for instance, whether a country has an appropriate legal framework in place. It also assesses the effectiveness of the framework, for instance, whether prosecutions have taken place for money laundering or terrorism financing.
Greylisting by the FATF would raise SA’s risk profile, place a question mark over its financial regulatory bodies and attach a higher risk premium to corresponding relationships between SA banks and international financial institutions. At worst, corresponding banking relationships could be cancelled. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
politicsblahbla Big time. A whole president...
politicsblahbla So apparently CyrilRamaphosa stolen $4m, puts SA at risk of ending up on Moneylaundering grey list TreasuryRSA sarstax PublicProtector NPA_Prosecutes CASACZA OUTASA The corrupt MYANC is dangerous RonaldLamola GwedeMantashe1 MbalulaFikile
politicsblahbla
politicsblahbla PhalaPhalaFarmGate Criminal Cartel had millions in the kingin house who is also the president of SA in Cyril Ramaphosa
politicsblahbla This politicsblahbla handle at quick glance it looks like Phalaphala
politicsblahbla Especially with the president hiding forex in his furniture
politicsblahbla Start by NOT giving government officials unnecessary increases
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