
Trade finance reliance positions Standard Bank most vulnerable to South Africa’s potential FATF grey listing
Standard Bank’s reliance on trade finance is a factor that makes the lender the most likely to lose earnings if South Africa is placed on the Financial Action Task Force (FATF) grey list, according to a report by RMB Morgan Stanley.
South Africa has until October 2022 to demonstrate progress in addressing its anti-money-laundering and counter financing of terrorism shortcomings or risk being added to the FATF list of ‘jurisdictions under increased monitoring’, better known as the grey list.
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