South Africa has been given 18 months by the Financial Action Task Force (FATF) to improve its capacity to track and prosecute money laundering and terrorist financing or face being including on the so-called FATF grey-list.

The Mutual Evaluation Report of South Africa published this month by FATF identified significant weaknesses in sections of the country’s anti-money laundering, counter financing of terrorism and counter financing of proliferation systems, including a lack of capacity to effectively combat and prosecute trade-based financial crime.

You need to be logged in to view this article.

If you are an existing subscriber please enter your credentials to log in.

To become a member of The Association of Trade Finance Compliance Professionals (ATFCP) click here!