There’s been some good news for the gambling sector coming out of Africa, with Nigeria and South Africa taken off the Financial Action Task Force (FATF) grey list.
The international FATF grey list includes jurisdictions that the watchdog sees at heightened risk of attracting criminal conduct due to weak anti-money laundering counter-terrorrist financing (CTF) policies.
Countries on that list are subjected to increased monitoring procedures by the FATF until they smooth out the outlined deficiencies. Nigeria entered the list back in 2023, when a national audit by the FATF revealed that the African nation was lacking behind in AML/CTF standards.
In its latest report, however, the G7’s international finance watchdog recorded significant improvements on the 2023 indicators.
