Major Progress on Exiting the Greylist – Just Two Steps Left
National Treasury issued a progress update in a Media Release as South Africa is getting closer to being removed from the Financial Action Task Force (FATF) greylist after successfully addressing 20 out of 22 required action points. The latest FATF review, which took place in Paris in February 2025, recognised the country’s progress in tackling money laundering and terrorism financing risks.
This means South Africa is on track to exit the greylist by October 2025, provided it meets the final two requirements by June 2025.
What’s Left to Do?
The last two outstanding areas focus on:
More investigations and prosecutions of serious and complex money laundering cases.
Stronger enforcement against terrorist financing activities.
The government and law enforcement agencies are working hard to meet these goals through targeted investigations and prosecution strategies.
Why Does This Matter?
For accountants and businesses, getting off the greylist will:
Improve investor confidence.
Reduce financial compliance risks.
Make international transactions smoother and faster.
National Treasury has welcomed the progress and emphasized that these reforms are not just about greylisting—they are crucial in fighting financial crime and corruption in South Africa.
The next FATF review is expected between March and June 2025, and if all goes well, South Africa could finally leave the greylist later in the year.
