South Africa fulfills actions to get off FATF’s financial gray list

Pretoria, Jun 16 (Prensa Latina) The Financial Action Task Force (FATF) confirmed that South Africa has substantially completed the 22 recommendations of its Action Plan, a crucial advance for Pretoria to get off the entity's gray list.

June 16, 2025
10:38

South Africa, according to FATF, was listed in February 2023 for “deficiencies in the fight against money laundering and terrorist financing”.

During the plenary session held in Strasbourg, France, the FATF determined that South Africa has implemented the necessary reforms and warranted an on-site assessment, the last step before possible delisting.

This visit, conducted by the FATF Joint Task Force on Africa, will verify that the reforms adopted are being implemented in a sustained manner and that the country’s political commitment remains strong.

In this regard, the South African National Treasury stressed that the completion of the Action Plan represents a milestone, as improvements to the money laundering and terrorist financing (AML/CFT) prevention regime are essential to overcome the legacy of state capture, which weakened law enforcement and judicial institutions.

“These improvements are crucial not only to getting off the grey list, but also to strengthening the fight against crime and corruption, and contributing to the integrity of the South African financial system,” Treasury stressed.

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