THE government “expects to address all the deficiencies” identified by the Financial Action Task Force (FATF) by early 2025, Finance Minister Enoch Godongwana said in his 2023 medium-term budget speech on Wednesday.
Giving an update on how SA is progressing in relation to exiting the so-called grey list, he confirmed that “15 of the 20 technical efficiencies” in the country’s legal framework to “fight against organised crimes and illegal financial flows” have been addressed. His comments around addressing the FATF red flags by early 2025 means the government hopes to be off the gray list when the global anti-money laundering watchdog meets in June that year. moneyweb.co.za