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Parliament Finalises Two Bills To Prevent Greylisting Of SA

The government is racing against the clock to avoid being punished by the global watchdog, the Financial Action Task Force.

Parliament is moving swiftly to tighten laws that will keep South Africa off an international greylist and make it even harder for the country to do business with international partners.

On Friday, the finance and police committees each put finishing touches to bills aimed at combatting money laundering and terrorist activity.

The government scrambles to avoid being added to a greylist of over 20 countries in February next year.

The standing committee on finance has been under severe pressure to finalise an anti-money laundering bill in just a matter of weeks.