In being grey listed South Africa joins a list of countries with poor governance. Others are war zones or countries with jihadist terror groupings operating on their land.
The country needs to pay closer attention to compliance with anti-money laundering legislation.
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NatWest and HSBC are restricting customers in their crypto-dealings.
Westpac chief executive Brian Hartzer will step down with $2.68 million. Had he stayed on he could have received share rights worth $20 million.
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Anti-money laundering efforts are based on measuring activity, not results. To cut crime and terrorism, we need a frank conversation about where the system has gone wrong.
The UK is no slouch when it comes to protecting against financial crime. It follows the relevant European directives, which require that banks have sufficient anti-money-laundering controls in place to…