South Africa Exits Greylist, but Tech Challenges Persist
South Africa's removal from the greylist is a significant achievement, yet several tech solutions to prevent illicit financial flows remain unimplemented.
SA’s removal from the Financial Action Task Force's (FATF's) greylist is "a strong vote of confidence in the country’s ability to combat money-laundering and other illicit financial crimes" - Dr Mmusi Maimane
According to Dr Mmusi Maimane, chairperson of the Standing Committee on Appropriations, this milestone reflects the collective efforts of government, the private sector, and law enforcement agencies to strengthen financial integrity systems.
- Complexities of implementing a Travel Rule for crypto assets traceability
- Pre-registered SIM cards enabling illicit money flows due to untraceability
Author's summary: SA exits greylist, faces tech challenges.