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South Africa: Shades of Grey - Financial Action Task Force Lists South Africa and Nigeria
ISS, 3 March 2023
Both countries have been greylisted, but how soon can they get off the Financial Action Task Force's radar? Read more »
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South Africa: Grey Listed for Not Stopping Money Laundering, Terrorism Funding
The Conversation Africa, 26 February 2023
The Financial Action Task Force has placed South Africa on a list of countries under increased monitoring, commonly known as the grey list, after it failed to address all of the… Read more »
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South Africa: Anti-Money Laundering Group Adds South African Nigeria to Grey List, Suspends Russia
DW, 24 February 2023
The Financial Action Task Force (FATF) has also added South Africa and Nigeria to its "grey list," a move that can be devastating to a nation's economy. Read more »
What Grey Listing Means for South Africa and Nigeria
Appearing on the Financial Action Task Force (FATF) grey list could spell disaster for a country's economy, as it discourages investment, indicates an absence of rule of law, and often results in the downgrading of the country's investment grade or rating.
The FATF announced the additions of South Africa and Nigeria to the "grey list" of countries under special scrutiny for not implementing adequate standards to prevent money laundering and terrorist financing.
The governments of both South Africa and Nigeria have given assurances that they would work closely with the task force.
InFocus
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The 2022 Corruption Perceptions Index (CPI) shows that most countries are failing to stop corruption. The CPI ranks 180 countries and territories around the world by their ... Read more »
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Nigeria's State Security Service (SSS) has alleged in court documents in the possession of Premium Times, that the Governor of the Central Bank of Nigeria Godwin Emefiele, ... Read more »
