Financial institutions should prepare for ‘more demanding’ AML/CFT review
The FATF’s mutual evaluation in April 2027 will drill down into how well AML/CFT measures work in practice rather than just ticking technical boxes.
#greylisting
SA nears grey list exit after complying with all 22 action items
South Africa now awaits an on-site visit by the FATF Africa Joint Group – paving the way for an anticipated exit from the grey list at the October plenary.
Expect the FSCA to call – heightened AML/CFT oversight ahead
What the Authority expects from financial services providers when it conducts Financial Intelligence Centre Act inspections.
Under pressure: navigating the financial regulatory heat in 2025
Financial institutions that proactively embed governance, technology, and culture to meet evolving regulatory standards will not only avoid penalties but also strengthen credibility, build resilience, and drive long term value.
FIC demands full RCR compliance to aid exit from the grey list
The Financial Intelligence Centre issues a stern reminder to designated non-financial entities – particularly legal practitioners and estate agents – to file their overdue risk and compliance returns.
SA won’t get off the grey list in June – Treasury now aiming for October
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
FIC cracks down on RCR defaulters: R10 000 fine today, bigger sanctions tomorrow
Accountable institutions that did not pay the smaller fine or remediate their non-compliance now face harsher penalties.
SA racing against February deadline if it wants to exit grey list by mid-2025
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
FIC’s 2023/24 annual report: the battle against financial crime
The Financial Intelligence Centre facilitated the recovery of R98.5m in criminal proceeds and generated 3 924 intelligence reports.
Businesses that don’t submit RCRs face ‘targeted’ inspections or fines
Non-compliant accountable institutions are hindering efforts to get South Africa off the grey list, says the Financial Intelligence Centre.
FIC issues sanction notices to non-compliant law firms and estate agents
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
Treasury: tough challenge to tick off all the items on FATF’s Action Plan
SA has staggered deadlines by when it must address the 17 outstanding items on the global body’s 22-item Action Plan, to get off the grey list.
Is South Africa on track to getting off the grey list?
Moonstone speaks to Ninety One’s Sangeeth Sewnath about the extent to which greylisting is affecting the economy, the markets, and investors.
FIC urges delinquent estate agents, lawyers to comply to help SA exit the grey list
Non-submission of the RCR required by Directive 6 will prevent the Financial Intelligence Centre from demonstrating compliance with the FATF’s action plan.
Study looks at impact of grey-listing on stock market returns
The SA Reserve Bank says grey-listing is one of the reasons for the record outflows from the country’s capital markets.
FATF releases report on SA’s progress with addressing compliance deficiencies
Following the re-ratings, South Africa is now deemed to be fully or largely compliant in 35 of the 40 Recommendations.
Average living annuity drawdown rate falls in 2022
Asisa says it is encouraging that the 2.5% to 5% drawdown rate made up the biggest income band by number of policies.
