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South Africa risks return to money-laundering grey list
South Africa risks return to money-laundering grey list
South Africa faces a significant risk of returning to the Financial Action Task Force's grey list barely a year after it secured removal, according to the latest quarterly assessment from business lobby group Business Leadership South Africa (BLSA).
The FATF grey list names countries under increased monitoring for weaknesses in fighting money laundering and terrorist financing. A return to the list would increase scrutiny of South African financial transactions, raise compliance costs for banks and businesses, and risk some international…
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