Tough enforcement key to financial sector’s pardon
30 August 2023
The successful enforcement of financial sector conduct laws is the most credible deterrent to the myriad shortcomings that got South Africa in trouble with the global Financial Action Task Force (FATF), culminating in the country’s grey-listing from February 2023. “The grey-listing is a very real challenge that our nation is facing [with] far-reaching implications for our economy, the integrity of our financial system, and the rule of law,” said Financial Sector Conduct Authority (FSCA) Commissioner, Mr Unathi Kamlana.