With a review imminent, the country faces more than the risk of remaining greylisted. Outdated, costly global money transfers are undermining competitiveness, increasing trade risks and deterring investment
Repression in the country is cloaked in reform through the suppression of nonprofit organisations
Financial crime governance should be happening in the boardroom and the legal and financial fallout from the lack of enforcement is becoming increasingly serious
The Trump factor, plus the ANC and the DA playing to the brink, has cost the country R1 trillion
The National Prosecuting Authority praised him for his passion for justice and the rule of law
Finance minister Enoch Godongwana forecast 1.8% growth over three years, coupled with a bigger deficit, as debt service costs crowd out fiscal space
The move is aimed at helping South Africa get off the Financial Action Task Force grey list and the prosecute state capture cases
The National Prosecuting Authority has encouraged its prosecutors and investigators to go after state capture cases
According to the treasury, the country’s authorities still need to fulfil 17 tasks in its 22-point plan
The National Prosecuting Authority is ready to act on state capture crimes but whether it has the ability to do so has been questioned
The top priority must be to take swift action to get off the greylist, restore SA’s reputation and regain the global community’s trust, party says
Financial Action Task Force noted the country made ‘a high-level political commitment’ to work with the watchdog to tackle money laundering
The finance minister said South Africa still needs to address shortcomings but hopes the sanctions will not be severe
The country shouldn’t be facing this threat but it could bring urgency to bringing in reforms to stop corruption
After a small increase in the MTBPS, there will be further allocations for the NPA and the fight against financial crime in the 2023 budget
If the government is seen to be making serious efforts to comply with anti-money laundering requirements, the country’s greylisting might not last long
The Gupta era exposed the flaws in the country’s anti-money laundering framework and now the government is dealing with the consequences
Ismail Momoniat is hoping to take ‘a massive step forward’ in fortifying the country’s money laundering controls by passing two bills before next February
South Africa’s banks and the treasury must address legal loopholes and weaknesses by October or face greylisting by global money laundering watchdog
Informal banking and trade are both a lifeline for local communities and a grey area for terror financing, requiring progressive efforts to develop rather than de-risk
Government must take steps to clean up the country’s dirty real estate market, which has long offered a safe haven for criminals