Rand slightly firmer

South African banknotes and coins illustrated on picture above. The rand is slightly firmer after the greenback declined against a basket of currencies. The removal of the country from a global financial crime watchdog’s list of countries under heightened scrutiny also helped the local currency. The Financial Action Task Force’s (FATF) decision to remove South…

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Political parties in Parliament welcome SA’s removal from grey list

The FATF is an intergovernmental organisation established in 1989 as the international watchdog to combat money laundering, terrorist financing, and other related threats. Political parties in Parliament have generally reacted positively to South Africa’s removal from the grey list. The Financial Action Task Force (FATF) removed South Africa from its grey list on Friday. This…

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SA’s removal from FATF greylist a major achievement: ACDP

FATF logo The African Christian Democratic Party (ACDP) says after the shocking allegations by KwaZulu-Natal Police Commissioner Lieutenant-General Nhlanhla Mkhwanazi, about corruption and the infiltration by criminal syndicates of the South African Police Service (SAPS), the news that South Africa is no longer on the Financial Action Task Force’s (FATF) greylist is a welcome relief….

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Rand strengthens after SA’s removal from FATF greylist

A street trader counts out change for a customer in Durban. The rand strengthened by nearly half a percent on Friday following the announcement that South Africa had been officially removed from the Financial Action Task Force greylist. Experts say the move signals that the country has made strong progress in tightening its controls to…

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SA exiting grey list is an important milestone: Treasury

FILE| South African rands. The National Treasury has welcomed the Financial Action Task Force’s (FATF) decision to remove South Africa from the Greylist. It emphasises that Government has worked tirelessly to address all the deficiencies reflected in the 22 action item plan agreed between the country and FATF. The global financial crime watchdog placed South…

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