NPA must move fast for SA to escape grey list’s grasp

With South Africa’s censure by the Financial Action Task Force (FATF) now official, the government is focusing its efforts on getting off the grey list quickly to prevent further harm to an already fragile economy.

Before it is taken off the list, the state will have to prove to the Paris-based financial crimes watchdog that, among other things, it has the ability to investigate and prosecute more cases involving money laundering. But the difficulty the National Prosecuting Authority (NPA) has faced in prosecuting these often complex crimes may set the government’s ambitions back.

The FATF has given South Africa an eight-point plan, which it will have to implement by the end of January 2025. According to a treasury document explaining the country’s greylisting, the government hopes to address them sooner, possibly in 2024.

At the root of South Africa’s greylisting is state capture, which hollowed out a number of state institutions, including the NPA.