MPs to debate SA's greylisting

MPs to debate SA's greylisting

MPs in Parliament will debate South Africa's greylisting by an international anti-money laundering watchdog.

Members of Parliament

The Financial Action Task Force put the country on the watchlist over a week ago for not meeting the global standards for combatting financial crimes.

The group says South Africa will be subjected to increased monitoring while the country works to address identified deficiencies.

The DA wrote to the Speaker of the National Assembly asking for an urgent debate on the steps that need to be taken to get us off the list.

It says the request has been granted but a date's yet to de decided.

The party's Shadow Minister of Finance Dion George says being on the grey list means the world will see South African companies as high-risk.

"We are pleased to note that the Speaker of the National Assembly has acceded to the request for an urgent debate. Being greylisted has placed our nation at significant risk, as the rest of the world now views South African companies and individuals as high-risk counterparty in global transactions.

“This development is entirely unacceptable, and it is incumbent upon our government to take immediate action to rectify this untenable position."

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