Yes, the Madlanga commission findings are not a good look for the ever-watchful eye of the Financial Action Task Force, but Mzansi is on the front foot for the Roadmap 26-28 under the UK's stewardship.
Since earlier this year, fresh off the grey list, South Africa has been on something called the 5th Round Mutual Evaluation by the Financial Action Task Force (FATF).
This concludes in 2027, just as the Springboks start their Rugby World Cup title defence Down Under, but crucially moves the needle from paperwork or legislative adoption to tangible, real-world enforcement outcomes and effectiveness.
How the country handles the recommendations and findings from the Madlanga Commission and any other commission of inquiry between now and then will play a major role in us staying off the grey list, but let's instead focus on the other positives.
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On 2 July, the FATF launched its latest initiative, Roadmap 26-28: Mobilising the Global Fight Against Fraud, marking the commencement of the United Kingdom's FATF Presidency under Giles Thomson. The launch brought together more than 1,600 global participants to establish a coordinated international front against a rapidly evolving, transnational fraud epidemic.
New broom sweeps fraud
During the launch, Thomson outlined the three strategic priorities of the UK presidency: "fraud, improving the implementation of the risk-based approach, and improving the sharing of information to tackle financial crime".
The overarching objective of the 2026-2028 roadmap is...
