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Tag Archives | grey list

anti-money-laundering

MPs insist on due process for Fica amendments aimed at avoiding grey-listing

Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the Financial Action Task Force’s grey list. Grey-listing will have dire consequences for the country’s financial system and will create difficulties for businesses […]

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AML

Clock is ticking for SA to avert something ‘worse than junk status’

There will be dire consequences for the economy if South Africa’s measures to combat money laundering and terrorism financing are not brought up to international standards this year, the Financial Intelligence Centre (FIC) and National Treasury told Parliament’s Standing Committee on Finance this week. The FIC and Treasury briefed the committee on the Financial Action […]

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