No data available for the deliverable: FATF Grey Listing Remediation
Summary
The FATF confirmed on 13 June 2025 that all 22 action items are complete. On-site assessment by the FATF Africa Joint Group is scheduled before the October 2025 plenary. If sustained implementation and political commitment are confirmed, South Africa is expected to be removed from the grey list in October 2025. Remaining vigilant is critical: ongoing political and institutional commitment is needed to maintain progress. Exiting the grey list will reduce the cost of capital, restore correspondent banking relationships and support economic growth. The reform was especially important given the legacy of state capture and weakened law enforcement. Treasury, SARB, FSCA, FIC, NPA, SAPS and DPCI all played key roles. South Africa is now seen as a model for rapid, comprehensive FATF remediation in a complex jurisdiction.
View DetailsIs it working?
Yes, all 22 FATF action items are now completed, including the most challenging, demonstrating a sustained increase in complex money laundering and terror financing prosecutions. The FATF has confirmed substantial completion and made an on-site assessment as the final step before delisting. This is a major turnaround from 2023, when enforcement and prosecution were the weakest areas. The reforms are not only technical but have led to real improvements in the effectiveness of South Africa’s AML/CFT regime. The process has also strengthened the country’s justice and supervisory systems, helping to restore international confidence. More time is needed to assess if enforcement is adequate.
Actions
Passed/amended key laws (General Laws Amendment Act, POCDATARA, FIC Act), Established/strengthened beneficial ownership registries, upgraded capacity and resources at FSCA, FIC, SAPS, NPA, DPCI, and sectoral supervisors, implemented risk-based supervision and effective, proportionate sanctions. Enhanced international cooperation, mutual legal assistance and cross-border enforcement. Dramatically increased the number and complexity of ML/TF investigations and prosecutions. Ongoing training, outreach, and sector engagement. National CFT strategy updated and implemented. Asset seizures and confiscations increased. Regular progress reports to FATF and high-level political oversight.
Are there plans?
Government adopted a detailed action plan with strict deadlines, regular reporting to FATF and full inter-agency coordination.
Is it on the agenda?
This has been a national priority since grey listing in Feb 2023, driven by NT.
Goals
A comprehensive overhaul of South Africa’s anti-money laundering, counter-terrorism financing and anti-proliferation regime to address all 22 FATF action items. This includes legislative reforms, improved risk-based supervision, beneficial ownership transparency, effective sanctions, increased asset confiscations and a sustained increase in complex money laundering and terror financing investigations and prosecutions.
Departments / Govt Institutions
Department of Justice and Constitutional Development National Treasury
Summary
The FATF confirmed on 13 June 2025 that all 22 action items are complete. On-site assessment by the FATF Africa Joint Group is scheduled before the October 2025 plenary. If sustained implementation and political commitment are confirmed, South Africa is expected to be removed from the grey list in October 2025. Remaining vigilant is critical: ongoing political and institutional commitment is needed to maintain progress. Exiting the grey list will reduce the cost of capital, restore correspondent banking relationships and support economic growth. The reform was especially important given the legacy of state capture and weakened law enforcement. Treasury, SARB, FSCA, FIC, NPA, SAPS and DPCI all played key roles. South Africa is now seen as a model for rapid, comprehensive FATF remediation in a complex jurisdiction.
View DetailsIs it working?
Yes, all 22 FATF action items are now completed, including the most challenging, demonstrating a sustained increase in complex money laundering and terror financing prosecutions. The FATF has confirmed substantial completion and made an on-site assessment as the final step before delisting. This is a major turnaround from 2023, when enforcement and prosecution were the weakest areas. The reforms are not only technical but have led to real improvements in the effectiveness of South Africa’s AML/CFT regime. The process has also strengthened the country’s justice and supervisory systems, helping to restore international confidence. More time is needed to assess if enforcement is adequate.
Actions
Passed/amended key laws (General Laws Amendment Act, POCDATARA, FIC Act), Established/strengthened beneficial ownership registries, upgraded capacity and resources at FSCA, FIC, SAPS, NPA, DPCI, and sectoral supervisors, implemented risk-based supervision and effective, proportionate sanctions. Enhanced international cooperation, mutual legal assistance and cross-border enforcement. Dramatically increased the number and complexity of ML/TF investigations and prosecutions. Ongoing training, outreach, and sector engagement. National CFT strategy updated and implemented. Asset seizures and confiscations increased. Regular progress reports to FATF and high-level political oversight.
Are there plans?
Government adopted a detailed action plan with strict deadlines, regular reporting to FATF and full inter-agency coordination.
Is it on the agenda?
This has been a national priority since grey listing in Feb 2023, driven by NT.
Goals
A comprehensive overhaul of South Africa’s anti-money laundering, counter-terrorism financing and anti-proliferation regime to address all 22 FATF action items. This includes legislative reforms, improved risk-based supervision, beneficial ownership transparency, effective sanctions, increased asset confiscations and a sustained increase in complex money laundering and terror financing investigations and prosecutions.
Departments / Govt Institutions
Department of Justice and Constitutional Development National Treasury
No data available for the deliverable: FATF Grey Listing Remediation
No data available for the deliverable: FATF Grey Listing Remediation
No data available for the deliverable: FATF Grey Listing Remediation
No data available for the deliverable: FATF Grey Listing Remediation
No data available for the deliverable: Proactive response
No data available for the deliverable: Proactive response
Summary
Increased outbound volume, improved procedural tracking, and a transparent reporting calendar for MLA requests created a best-practice, peer benchmarked protocol. Proactive multi-agency MLA requests, in volume and effect, are now tracked and peer-reviewed, supporting continued FATF compliance and transparency in international crime reporting and asset recovery.
Is it working?
Cross-border cooperation meets benchmarks and supports rapid global response mechanisms.
Actions
MLA process has set demonstrable best-practices, evidenced by FATF/peer benchmarking and continued case cycle improvements.
Are there plans?
Six-monthly reporting, benchmarking and update protocols featured in multi-agency plans and expert reviews.
Is it on the agenda?
Outbound MLA reporting is an ongoing agenda item within Cabinet and cross-border justice initiatives, with compliance milestones assigned per fiscal cycle.
Goals
Enhance global crime cooperation, accelerate legal response.
Departments / Govt Institutions
No data available for the deliverable: Proactive response
No data available for the deliverable: Proactive response
No data available for the deliverable: Proactive response
No data available for the deliverable: Proactive response