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LATEST: South African bank reps warn potential FATF grey listing would cause ‘more inflation, higher interest rates and higher unemployment’

By Elizabeth Hearst for AMLi

Senior bank executives from some of South Africa’s largest banks have warned of the potential implications of a FATF grey listing on the country. 

Their warnings come as the country attempts to bulk up its anti-financial crime defences, as a potential grey list decision from the global financial watchdog looms.

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