The New Era of Financial Integrity
According to Hawken McEwan from nCino KYC Africa, meeting the Financial Action Task Force's (FATF) demands should be seen as a new baseline.
South Africa's removal from the FATF grey list is a milestone worth celebrating, but it's not the finish line. The reforms of the past two years were critical, and the real work begins now.
Sustaining progress will demand more than compliance checklists; it calls for resilience, transparency, and a lasting shift in how we think about financial integrity.
- Accountable institutions and the public sector have addressed the FATF's demands since South Africa was placed on the grey list in February 2023.
- Technical checklists have been passed, policies rewritten, reporting improved, and oversight invested in.
Since South Africa was placed on the grey list in February 2023, accountable institutions and the public sector have scrambled to address the FATF’s demands.
The immediate pay-off of removal from the list includes renewed investor confidence and more buoyant financial markets.
Author's summary: South Africa must maintain financial integrity.
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