SA off the hook over FICA delays - for now

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Cape Town – South Africa was let off the hook for the time being when the Financial Action Task Force (FATF) decided not to publicly rebuke the country for failure to sign into law amendments to the Financial Intelligence Centre Act (FICA). 

At its plenary meeting held in Paris from 22 to 24 February the international body that monitors compliance with anti-terrorism and anti money-laundering regulations deferred a decision to issue a public statement on South Africa’s compliance with standards against money laundering and terrorist funding until its next meeting in June. 

The plenary considered the FATF’s 12th Mutual Evaluation Follow-up Report on South Africa’s process to remedy deficiencies identified in the 2009 mutual evaluation. 

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