"The listing of South Africa as a 'jurisdiction under increased monitoring' — commonly known as greylisting — has caused much concern about the state of our financial institutions, law enforcement agencies and investment environment. The situation is concerning but less dire than some people suggest," said Ramaphosa.
"The challenge facing authorities is to anticipate criminal innovation and to respond swiftly and effectively. We have a focused action plan in place to address the remaining deficiencies identified by the FATF. Most of these relate to the implementation of our laws," the president stated.
"The fundamentals are in place, and we know what we need to do to get off the grey list. We are determined to do this as quickly as possible. This is important not only for our international standing but also for our own ability to fight these crimes in our country," the president stressed.