What does the Financial Action Task Force’s grey listing of South Africa mean?

In this podcast, members of our Global Business Crime team and alliance partner Webber Wentzel talk about what South Africa’s addition to the Financial Action Task Force’s (“FATF”) grey list means for companies with businesses or investments in South Africa.

In particular, they cover:

  • What it means to be grey-listed by FATF.
  • The actions South Africa needs to take, and is taking, to come off the list.
  • What the grey-listing might mean for investment into the region and the practical implications for organisations with a presence there.
  • How the grey-listing compares to other countries that are working on similar improvements to their AML regimes.
  • The reporting obligations for organisations in South Africa.