BREAKING: South Africa’s struggle with ‘state capture’ has shown itself through consistent AML failings, FATF says in latest report - AML Intelligence
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BREAKING: South Africa’s struggle with ‘state capture’ has shown itself through consistent AML failings, FATF says in latest report

By Dan Byrne for AMLi

FATF in a 238-page document today called out many holes in South Africa’s AML defences – some of which are the result of years of foul play at the highest levels, the agency says.   

“South Africa has suffered from a sustained period of “State capture”, which helped to generate substantial corruption proceeds and undermined key agencies with roles to combat such activity,” read the report’s executive summary.

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