Greylist exit in sight: SA braces for make-or-break Financial Action Task Force inspection
Image: File photo
South Africa is set to take the final step toward exiting the Financial Action Task Force greylist, with an international assessment team scheduled to arrive in the country next week for an on-site evaluation.
The FATF Africa Joint Group will visit South Africa on July 29 and 30, 2025, to verify progress made in strengthening the country's anti-money laundering and counter-terrorism financing systems.
IOL previously reported that the country was placed on the greylist due to its failure to adhere to the FATF's requirements in dealing with anti-money laundering (AML) and combating financing of terrorism (CFT).
This visit is the final requirement before the FATF decides at its October plenary whether the country can be removed from the greylist. Since being greylisted in 2023, the country has worked hard to complete 22 action items required by the FATF
These include improving investigations and prosecutions of serious money laundering and terrorist financing cases, enhancing transparency around company ownership and enforcing stronger penalties for violations.
Earlier this year, the watchdog also confirmed South Africa had substantially completed the Action Plan, allowing the on-site visit to proceed.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Next
Stay
Close ✕
[WATCH] "I hope South Africans will behave; visitors will be here." Minister in the Presidency Khumbudzo Ntshavheni says the team monitoring SA's greylisting will be in the country at the end of July. #Newzroom405 pic.twitter.com/AzgfgNw6sK — Newzroom Afrika (@Newzroom405) July 16, 2025
'At its June 2025 Plenary, the FATF made the initial determination that South Africa has substantially completed its action plan and warrants an on-site assessment to verify that the implementation of AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation in the future,' FATF said.
During a media briefing last week, Minister in the Presidency Khumbudzo Ntshavheni spoke about the upcoming FATF inspection, saying it was important for the country to be removed from the list and expressed hope that South Africans would behave.
"The FATF inspection date, they are coming on the 29th and 30th of July 2025, so I hope South Africans will behave, the visitors will be here, we need to get out of the greylisting, it's important for all of us that we," Ntshavheni said.
IOL Business
mthobisi.nozulela@iol.co.za Get your news on the go, click here to join the IOL News WhatsApp channel
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
2 hours ago
- IOL News
Outrage erupts over U. S. deportation of violent criminals to eSwatini
The government has denied the involvement of King Mswati in the deportation of hardened criminals from the U.S. to South Africa's neighbour. Image: Supplied/Eswatini Government U.S. President Donald Trump's administration's decision to send five dangerous hardened criminals to eSwatini (formerly Swaziland) has sparked outrage in the neighbouring country and fears that they may end up in South Africa. The Trump administration announced over a week ago that it would be sending the men who are illegal immigrants from Vietnam, Jamaica, Laos, Yemen and Cuba convicted of child rape, murder, burglary, and being gang members and whose countries refuse to take them back. This week, the eSwatini Women's Movement has raised concerns about whether the five individuals informed of their removal and given access to consular support from their home countries as this is a fundamental right of anyone detained or deported across international borders. It demanded to know who within the eSwatini government authorised the acceptance of these individuals and the legal basis and if they were detained in line with a valid detention warrant or a certificate of detention as prescribed by the Immigration Act. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ "If there is no such legal basis, under what authority are they currently being held? Any alternative basis for detention may contravene the Correctional Services Act No. 13 of 2017 and risks undermining the rule of law in eSwatini," the movement said. In addition, it wants to know how much has been paid to the government of eSwatini to support the stay of the five deported individuals and the plan after the conclusion of their sentences. The Swaziland Solidarity Network (SSN), which mobilises exiled emaSwati, has urged the country's citizens at home and in the diaspora to fight what it described as a shameful arrangement. The SSN said emaSwati must organise, mobilise and protest against the decision and make it clear to their government that their country is not for sale nor is it an American prison. According to the network, the U.S. homeland security department has stated that the convicted criminals must be removed so that they can never hurt another American victim, which by implication means they must now hurt emaSwati. "This is a deliberate act of collusion by two corrupt governments to dump America's most violent criminals in one of the world's poorest nations. And the (King) Mswati-led Tinkhundla (eSwatini local government administrative division) regime quietly agreed without consulting the nation or informing its own rubberstamp Parliament," the SSN said. It called on emaSwati to demand answers on whether this is a paid-for deal or a political favour, the terms and conditions. "This is an act of betrayal and is proof once again that the Tinkhundla regime does not prioritise the safety and wellbeing of the Swazi people. It has not only auctioned off national sovereignty but it has turned Swaziland into a dumping ground for foreign governments looking to offload hardened criminals," the network complained. Other organisations – the Swaziland Litigation Centre, the Swaziland Rural Women's Assembly and the Southern Africa Litigation Centre – said in a 2024 report on human rights practices in eSwatini, the U.S. noted that prisons were overcrowded, constituting inhumane treatment and that there were reports of torture. They are demanding that the eSwatini government commit to not accepting inmates from third countries. "The eSwatini Commission on Human Rights and Public Administration and international bodies, as official visitors under section 122 of the Correctional Services Act, visit the individuals to establish the facts surrounding their detention and their detention conditions. "The international bodies should include the African Commission on Human and Peoples' Rights, which is currently conducting an official visit in eSwatini, and the International Committee of the Red Cross in Pretoria," the organisations demanded. Additionally, they want the government to clarify the legal and factual basis on which the five individuals were accepted into eSwatini and for their countries' consulates urgently arrange for consular services to ensure that they obtain legal representation. The eSwatini government has denied King Mswati's involvement in the prisoners' deportation while the Department of Home Affairs in South Africa did not respond to questions on Saturday.
IOL News
2 hours ago
- IOL News
Ingonyama Trust faces challenge in refunding over 1,600 residents
Ingonyama Trust Board acting CEO Siyamdumisa Vilakazi says spending over R4 million to reimburse homeowners who paid rental fees to occupy traditional land in KwaZulu-Natal will not financially harm the board. Image: Ingonyama Trust Board website THE Ingonyama Trust is facing significant hurdles in its mission to refund more than 1,600 residents from whom it illegally collected funds between 2007 and 2021. More than R4 million is awaiting restitution, but the trust has only successfully contacted just over 200 individuals so far, leaving a vast majority untraceable. The interim chief executive of the board, Siyamdumisa Vilakazi, said they are continuing with their efforts to trace people. "Tracing all of them is difficult, as some have died; others in the deep rural areas have network problems where they stay. There are 1602 people who need to be refunded. We've only managed to trace 208," said Vilakazi. Vilakazi said there could be more people who show up who say they were also paying the trust. "However, so far only 1620 people are in our records," said Vilakazi. The trust is paying back people who were paying for residential leases. He said the residential lease was different from the money paid by subjects who are under traditional authorities, as those funds are kept by Cooperative Governance and Traditional Affairs. The residential leases were paid between 2007 and 2021 until it was discovered that the trust has no authority to collect such funds. "It was different amounts. In some areas, people were paying R1200 per year," said Vilakazi. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ While hoping to have all refunds processed within the next 18 months, Vilakazi mentioned the possibility of additional individuals coming forward claiming they were also subjected to the trust's leases. In June 2021, Judge Isaac Madondo in the Pietermaritzburg High Court ruled that the Ingonyama Trust's residential lease programme was unlawful and unconstitutional. The court declared the leases invalid and ordered the trust to refund all money collected from residents under the programme. This ruling stemmed from a challenge arguing that the Trust's actions violated residents' constitutional and customary law property rights, specifically by converting permission to occupy (PTO) rights into lease agreements. The matter was brought to court by the Council for the Advancement of the South African Constitution (Casac) and the Rural Women's Movement. The previous board tried to appeal the decision unsuccessfully. The deputy chairperson of the ITB, Advocate Linda Zama, said they decided to abide by the court's ruling and directive. She said she's unaware why the previous board decided to charge residents. She said she knows that there are people who are opposed to their decision to refund residents. SUNDAY TRIBUNE
IOL News
4 hours ago
- IOL News
Trial of alleged Durban hitman delayed due to absent lawyer
The trial of two hitmen has had a setback as lawyer Sthembiso Nkatha fails to come to court Image: FILE Concerns as a trial of alleged hitmen charged with 15 murders faces delays due to a lawyer who also acts as a Magistrate has been a no-show at the Durban High Court. The lawyer has 'failed' to formally excuse himself from the case. The murders include the mass shooting at Durban's iNanda, which resulted in the death of six people. The said lawyer, Sthembiso Nkatha, represents Sbonelo 'Madanon' Wiseman Shangase. Shangase is charged alongside Thalente Mkhize. They together face 28 charges, including the 15 murders, robberies, attempted murders, possession of firearms and ammunition, and kidnapping. Their trial was scheduled to run from July 21 to August 22; however, on Monday, the matter could not commence as Nkatha was not present. Additionally, last year, the pre-trial of the men faced delays due to Shangase's payment issues with Nkatha. However, despite all of that, Nkatha committed to Judge Bruce Bedderson that he would continue representing Shangase after he was assured of payment. Judge Bedderson warned Nkatha that by agreeing to continue representing his client, 'he was handcuffed to the train and wouldn't be able to jump off.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Moreover, last year, when Shangase had failed to pay Nkatha, the court had warned him that he would represent himself. On Monday, he applied for legal Aid as Nkatha was a no-show. On Thursday, Shangase made a brief appearance at the high court before Judge Jacqueline Henriques, who asked him if Nkatha had contacted him regarding funds. 'Is there a possibility that he may have contacted members of your family?' she asked. Shangase seemed to be in the dark. Judge Henriques asked him if any of his family members were present in court. Shangase turned back to look at the gallery and responded by telling the Judge that no one was there. She asked Shangase if he had consulted with Nkatha before July 21, and he said no. Judge Henriques, who looked concerned and kept on brushing her hair with her hand and seemed frustrated, asked again when Shangase had a consultation with Nkatha. Shangase said it was before the end of 2024. Additionally, it had been said that Nkatha withdrew his services due to non-payment; however, the State senior prosecutor, advocate Krishen Shah, told Judge Henriques that he had not received an email from Nkatha stating that. He said in the past weeks he had emailed Nkatha and advocate Phumelele Daniso from Legal Aid additional statements, and it was delivered to both of them. Daniso is representing Mkhize. 'There was no response from Nkatha,' he said. Shah confirmed to Judge Henriques that Nkatha acts as a magistrate. Judge Henriques asked Shah to forward her the email he had sent to Nkatha and delivery receipts. He adjourned the matter to Monday for Shangase's legal representation issue.
