By Admin 
South Africa has succeeded in getting out of the suspicious (grey) list of the Financial Action Task Force (FATF) after almost three years. The global money laundering and terrorist financing watchdog announced the decision at the conclusion of its three-day plenary meeting in Paris last week.
Countries included in the FATF Suspicious List are closely monitored and such countries have to address strategic deficiencies to combat money laundering, terrorist financing, etc. “Over the past 32 months, South Africa has worked with a team of FATF-appointed reviewers to assess the progress of the action plan,” South Africa’s Finance Ministry said in a statement.
Assurance from South Africa to FATF
According to the statement, ‘Thanks to this collaboration, reviewers inspected the site at the end of July 2025. During this time, reviewers came here to confirm the sustainability of the reforms and the report prepared by them was presented before FATF.
The FATF was assured of the government’s commitment to sustainable improvements in its anti-money laundering and countering the financing of terrorism (AML/CFT) regime, the statement said. However, the Finance Ministry has also cautioned against any negligence to avoid being included back in the FATF suspect list. Apart from South Africa, FATF has also removed Nigeria, Mozambique and Burkina Faso from its suspicious list.
What is the work of FATF?
FATF (Financial Action Task Force) is an international organization that works to prevent money laundering and terrorism financing globally.
FATF was established in 1989 by the G-7 countries and its purpose is to set standards and guidelines for the prevention of financial crimes in countries. FATF member countries include 39 member countries and territories, which together take action against global financial crimes.
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