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Nigeria and South Africa Added to the FATF Grey List – Implications for International Investors
8 March 2023
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South Africa and Nigeria have been added to the “grey list” maintained by the Financial Action Task Force due to deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing.
The inclusion on the grey list is likely to result in adverse consequences for the two economies, including a reduction in foreign direct investment.
Investors with exposure to these jurisdictions can take steps to minimise the operational impact of this grey listing and mitigate any AML/CTF risks.
Geoffrey P. Burgess
Aseel M. Rabie
UK Modern Slavery Act Transparency Statement
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