The Acting Minister for the Presidency of South Africa Maropene Ramokgopa announced on Thursday, September 5, that the country has made significant progress in the fight against financial crime. This potentially paves the way for its removal from the Financial Action Task Force (FATF) gray list

South Africa is hoping for good news soon. Indeed, Ramokgopa reported that the country now fully meets 15 of the 20 FATF technical compliance requirements. According to him, “significant progress has been made in South Africa's efforts to address its shortcomings in technical compliance.” According to the minister, “in order for South Africa to completely leave the grey list, 22 measures have been identified as lacking in terms of effectiveness. Of these, eight have been fully revised, leaving 14 still to be resolved by February 2025.”

It should be noted that South Africa was included on the FATF grey list in February 2023 due to issues related to the fight against money laundering and the financing of terrorism. The country was then placed under increased surveillance, and invited to fill the gaps detected within a certain period of time. According to Ramokgopa, the firm was aware of the complexity of the issues identified, and was committed to intensifying its efforts to address the remaining