South Africa Risks Staying on Dirty Money List, Nedbank CEO Says
- Mike Brown said investigations could be a stumbling block
- FATF gave South Africa until next January to fix concerns
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South Africa faces an uphill climb to escape a global dirty-money monitoring list by next year, according to the outgoing chief executive officer of Nedbank Group Ltd.
“I think it will be very difficult for us to get off the list by 2025 largely because of the slow progress in investigations and prosecutions,” Mike Brown said in an interview in Bloomberg’s Johannesburg office on Monday. “That is going to be the hardest bit to get us off the list.”