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Financial News

For the past few years, South Africa’s financial system has been under intense external scrutiny.

Regulators around the world had raised concerns that our banking and legal systems were not doing enough to stop criminals or terrorist groups from moving money through the country. Because of this, South Africa was placed on the International Financial Action Task Force (FATF) “grey list” in early 2023.

That grey listing hurt us more than many people realised. It made global investors nervous and added extra checks and costs for South African banks and businesses trading across borders. In short, it was a black mark against our reputation and it slowed down investment at a time when our economy could least afford it.

‘after more than two years of hard work, the FATF has officially removed South Africa from the grey list’

Now, after more than two years of hard work, the FATF has officially removed South Africa from the grey list (in October 2025). This follows major changes over the years to our laws and systems, including stronger anti-money-laundering and counter-terrorist-financing rules, better transparency about who owns companies, and tougher prosecution of financial crimes.

The good news is that this decision will help rebuild trust and make South Africa more attractive to investors again. Banks should find it easier to move money internationally, and businesses will face fewer delays and compliance headaches.