SA addresses 20 out of 22 actions in FATF greylisting

South Africa is making progress towards exiting the Financial Action Task Force (FATF) greylist.

According to the FATF, the country has addressed 20 of the 22 action items relating to combating money laundering and terrorist financing.

This leaves two items outstanding to be addressed in the next reporting period that runs from March to June this year.

National Treasury says this would enable South Africa to be considered for delisting from the FATF greylist in October 2025.

Treasury has welcomed the efforts in securing upgrades for the four action items by the relevant authorities.

The last two outstanding items relate to showing investigation and prosecution of serious crimes and complex money laundering and terrorism financing cases.

Treasury has emphasised the importance of getting off the greylist as part of efforts to strengthen the fight against crime and corruption.

The country was grey-listed in February 2023 by the international body overseeing global compliance with anti-money laundering and anti-terrorist financing rules.