This photo taken on Jan. 31, 2023 shows the night view of Johannesburg, South Africa. (Xinhua/Zhang Yudong)
South African President Cyril Ramaphosa said Monday that the grey listing of South Africa by the Financial Action Task Force (FATF) is an opportunity for the country to improve its ability to tackle financial and illicit crimes.
JOHANNESBURG, Feb. 28 (Xinhua) -- South African President Cyril Ramaphosa said Monday that the grey listing of South Africa by the Financial Action Task Force (FATF) is an opportunity for the country to improve its ability to tackle financial and illicit crimes.
Photo taken on May 1, 2021 shows a building of First National Bank in the central business district, Cape Town, legislative capital of South Africa. (Xinhua/Lyu Tianran)
Ramaphosa made the remarks in his newsletter on Monday after the FATF, a global money laundering and terrorist financing watchdog, placed South Africa on the grey list of jurisdictions under increased monitoring.
The country has made progress in addressing the identified shortcomings, Ramaphosa said. "The grey listing is an opportunity for us to tighten our controls and improve our response to organized crime. This will ultimately place us on a stronger footing to effectively fight these damaging and dangerous crimes." ■
