SA ‘in danger of being a mafia state,’ says Momoniat

Treasury deputy director-general Ismail Momoniat says the bottom line is that crime really does pay in SA

24 October 2021 - 00:00 By Chris Barron

National Treasury deputy director-general Ismail Momoniat says SA is in danger of becoming a mafia state if it doesn’t deal urgently with money laundering and financial crimes.

A report by the intergovernmental Financial Action Task Force (FATF) — the global money laundering and terrorist financing watchdog — has identified glaring weaknesses in SA’s capacity to deal with these activities...

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