South Africa removed from FATF greylist after two years of scrutiny

South Africa has been delisted from the notorious greylist after more than two years of intense scrutiny by the Financial Action Task Force (FATF).

The global financial crime watchdog placed South Africa on the list in February 2023 for not complying with international standards around the prevention of money laundering and terrorist financing.

The country has taken more than two years to shed the unwanted tag, having successfully addressed twenty-two urgent action items.

The FATF made the latest decision on the final day of its Plenary and Working Group meetings in Paris on Friday.

Burkina Faso, Mozambique, and Nigeria have also been delisted from the greylist.