South Africa Nears Greylist Exit as FATF Recognizes Significant Progress
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Cape Town, South Africa – South Africa has substantially completed all 22 action items outlined in the Financial Action Task Force (FATF) Action Plan, which was adopted when the country was greylisted in February 2023. This significant progress was announced by the FATF at its Plenary in Strasbourg, France, on June 13, 2025.
The FATF’s decision paves the way for an on-site assessment to verify the implementation and sustainability of critical Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) reforms, as well as the continued political commitment to these efforts. This on-site visit by the FATF Africa Joint Group (JG) is the final step before South Africa can be delisted.
National Treasury has lauded the efforts of law enforcement agencies, particularly the Directorate for Priority Crime Investigation (DPCI) of the South African Police Service, the State Security Agency, and the National Prosecuting Authority (NPA). Their sustained increase in investigations and prosecutions of serious and complex money laundering and terror financing activities enabled South Africa to secure upgrades on the final two, most challenging action items. The FATF specifically noted South Africa’s progress in “demonstrating a sustained increase in investigations and prosecutions of serious and complex money laundering and the full range of TF activities in line with its risk profile” and “updating its TF Risk Assessment to inform the implementation of a comprehensive national counter financing of terrorism strategy”.
Improvements to South Africa’s AML/CFT regime are crucial for strengthening the fight against crime and corruption and for enhancing the integrity of the South African financial system, especially given the legacy of state capture which weakened law enforcement and prosecuting institutions. Exiting the FATF greylist is seen as a significant stride in bolstering the country’s supervisory and criminal justice systems.
The on-site visit is scheduled to occur before the next FATF Plenary in October 2025, at which point, if the outcome is positive, South Africa could be officially delisted. Preparations for this visit are already underway.
South Africa also congratulated Mali and Tanzania on their delisting from the greylist, and acknowledged Nigeria, Mozambique, and Burkina Faso for substantially completing their action plans, similarly leading to approved on-site assessments.
National Treasury also paid tribute to the late Advocate Rodney de Kock of the NPA, who played a leading role in preparing the groundwork for South Africa to address the action items.
