South Africa Sees Progress in Effort to Get Off Dirty-Money List

A new report by the Financial Action Task Force shows South Africa is making progress in its efforts to be removed from the global watchdog’s dirty-money watchlist, the National Treasury said.

South Africa was placed on the so-called gray list in February by the FATF to denote the country’s shortcomings in tackling illicit financial flows and combating terror financing. The impact is still being felt, with the European Union adding South Africa to a group of high-risk countries in May.