The greylisting of South Africa by the Financial Action Task Force (FATF) was announced on February 24 this year, two days after the 2023 Budget Speech. Though expected and, according to government and financial practitioners, “priced-in”, it nonetheless affirmed the continued deterioration in the country’s standing as an emerging market. Countries get greylisted for a variety of reasons, of which none of these are good and they are provided with a set of requirements that they have to fulfil to be removed. Those who fail to comply either remain greylisted or
