First Thing is First |   South Africa has been greylisted by the Financial Action Task Force (FATF), an intergovernmental body that sets global standards to combat money laundering and terrorist financing.

 

The move puts South Africa in the company of countries such as Syria, Haiti, Yemen and Mozambique.

 

The watchdog's decision signals to global banks, financial institutions and investors that the country is not fully compliant with anti-money laundering and terrorist financing standards.

 

How did we get here and what does it mean?

 

Guest :Redge Nkosi is an executive director of Firstsource Money.