Greylisting is expected to hike the cost of doing business in South Africa.
TimesLIVE reported last year on: 'How R6bn got from spaza shops to African terrorists. Payment systems meant to facilitate remittances from SA, but sudden large transactions started raising flags'.
Money laundering in the RSA is a hot spot for money laundering related activities, including the narcotics trade, smuggling, human trafficking, and diamond dealings. SAG estimates that between $2 and $8 billion is laundered each year through SA financial institutions.
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