The South African Revenue Service SARS Commissioner, Edward Kieswetter, has welcomed the decision by the Financial Action Task Force FATF to delist South Africa from its grey list of jurisdictions under increased monitoring.
"This is a significant moment for our country and a testament to the whole of government approach and its institutions to restore the integrity of our financial system," the Commissioner said on Friday.
The decision to delist South Africa was taken at the conclusion of meetings of the FATF Plenary, which took place over 22-24 October 2025 in Paris, France.
"While the FATF's initial grey-listing in February 2023 was a consequence of systemic weaknesses aggravated during the era of state capture, SARS is acutely aware that it, along with other key institutions, was impacted and must continue to play a crucial role in preventing any future regression.
"We recognise that removing the designation of grey listing is not a finish line but a milestone on a long-term journey toward building a robust and resilient financial ecosystem," he said.
The FATF is an intergovernmental organisation and finance watchdog that was established to combat money laundering, terrorist and proliferation financing, as well as other threats to the integrity of the international financial system.
It sets global standards for anti-money laundering and counter-terrorism financing, promotes the effective implementation of these standards, and conducts mutual evaluations of member countries to assess their compliance with the FATF Recommendations.