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The Financial Action Task Force (FATF) President Eliza De Anda Madrazo says they have recognized South Africa’s efforts in addressing deficiencies in anti-money laundering and counter terrorism regulations.
De Anda Madrazo says the task force will have its annual plenary visits to South Africa in August to assess the country’s progress with its Action Plan.
This visit will determine South Africa’s future regarding the grey list, a decision which will be announced by FATF in October.
South Africa was grey listed by FATF in February 2023 and has announced that it has substantially completed all 22 action items that were contained in the Action Plan.
“So by October the 25th we will be going public into the final decision of South Africa, for the moment pending the decision in October. I think strong working condition in South Africa, in particular we are doing investigations and prosecutions of complex money laundering cases.” Said Madrazo.
The South African Reserve Bank welcomes the positive news of the Financial Action Task Force’s (FATF) confirmation that the country has completed all 22 of its action items to combat money laundering, terrorist financing and proliferation financing.
This is a significant step… pic.twitter.com/NLxqAxQXnY
— SA Reserve Bank (@SAReserveBank) June 14, 2025
