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

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Image Credit: Lesetja Kganyago LinkedIn

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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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Premium

NEWS: Frankfurt re-confirmed as AMLA seat at European Parliament, putting an end to speculation Spanish MEPs would seek new vote

NEWS: Europe’s most wanted who bought 172 homes worth €50M thru ML goes on run after being released in ‘fiasco’ by Spanish court

NEWS: Banks say AML regulations not clear, do not address realities of modern AFC operations – report

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