BREAKING | Financial Action Task Force greylists South Africa

The Financial Action Task Force on Friday said it was adding South Africa and Nigeria to its grey list of countries. Stock photo.
Image: 123RF/WELCOMIA

International financial crime watchdog the Financial Action Task Force (FATF) on Friday said it was adding South Africa and Nigeria to its so-called grey list of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing.

The FATF is an intergovernmental organisation that underpins the fight against money-laundering and terrorism financing by setting global standards and checking if countries respect them.

Reuters