Grapevine

By News 24
Jul 26, 2024

Estate agents, lawyers 'wilfully standing in the way' of SA exiting greylist, warns FIC

The centre says these businesses are "dismantling and disrupting" SA's effort to exit the Financial Action Task Force's grey list.

Institutions that do not submit reports risk being targeted for inspections or fines.

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The Financial Intelligence Centre (FIC) has again warned that some legal practitioners, estate agents, and dealers in precious stones and metals are "wilfully standing in the way" of South Africa's exit from a global financial watchdog's grey list.

The centre, which analyses and interprets financial data to combat money laundering, said it has started to issue notices of intention to fine uncooperative businesses.