The Financial Action Task Force (FATF) placed Nigeria and South Africa on its so-called “grey list” of countries requiring increased monitoring because of deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.

The global money laundering and terrorism financing watchdog made the announcement in a press release Friday.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...