SA remains greylisted after failure to root out corruption

JOHANNESBURG - South Africa remains greylisted after the Financial Action Task Force (FATF) found the country has not done enough to combat money laundering and corruption - among other issues. 

The global financial crime watchdog downgraded South Africa to its grey list in February 2023.

It released a statement on Friday, following a meeting in Singapore.

While the government claims it has made headway to address shortfalls, the FATF says more needs to be done to address strategic deficiencies.

Meanwhile, Monaco and Venezuela are additions to the greylist, while Jamaica and Türkiye have been removed.