South Africa Steps Up Efforts to Exit Dirty Money Watchlist

South Africa’s financial watchdog is stepping up pressure on the legal fraternity and real estate brokers to comply with mandatory disclosure requirements, part of a bid to ensure the country is removed from a global watchdog’s dirty-money watchlist by the end of next year.

The two industries have been identified as posing a high risk to the country’s efforts to fight flows of illicit funds and combat terror financing, and are being subjected to greater oversight from the Financial Intelligence Centre, which is central to South Africa’s plans to exit the Paris-based Financial Action Task Force’s so-called gray ...