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NEWS: South Africa’s Central Bank Governor warns economic consequences of FATF grey listing would be ‘massive’

Image Credit: Lesetja Kganyago LinkedIn

By Elizabeth Hearst for AMLi

The Governor of South Africa’s Central Bank has urged authorities to take action to prevent the country being added to FATF’s grey list.

Lesetja Kganyago warned lawmakers on Wednesday that the negative economic consequences of a grey listing would be “massive”, after FATF set an October deadline for the country to bulk up its AML/CFT defences, reports Bloomberg.

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