South Africa Is Likely to Be Added to Dirty-Money Watchlist (1)

South Africa is likely be added to a global illicit-finance watchlist and the government must act swiftly to limit the impact, according to a new study.

There’s an 85% probability that the Financial Action Task Force, which polices compliance with anti-money laundering and terror-financing measures, will include the country on its so-called gray list in February, the study conducted by research and consulting company Intellidex on behalf of lobby group Business Leadership South Africa found. The move will primarily be a result of so-called state capture, which saw state coffers looted and the criminal justice system undermined during former ...