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Reuters
Reuters
Business
By Tassilo Hummel, Bhargav Acharya and Alexander Winning

Financial crime watchdog adds South Africa to 'grey list'

South Africa Africa FATF Financial Action Task Force Terrorism
Cars drive past Nigerian national flags in Abuja, Nigeria June 12, 2021. REUTERS/Afolabi Sotunde

International financial crime watchdog the Financial Action Task Force (FATF) on Friday added South Africa to its "grey list" of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing.

Being added to the list is a reputational setback for Africa's most advanced economy, which has been trying to address shortcomings identified by the FATF.

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