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Message: [QUOTE="Nehanda, post: 25047, member: 2262"] Many countries need to follow special rules about money. These rules help prevent bad people from using money in the wrong ways. A group called FATF watches how countries handle their money and makes a list of countries that need to improve their compliance with these rules. Twenty-four countries must follow strict rules about money today. Fourteen of these countries live in Africa. Some countries, like Kenya, Namibia, Nigeria, and South Africa, need to make better rules about keeping money safe. Some African countries have already improved their money rules. Ghana fixed its problems in 2021, Uganda made things right in 2024, Senegal worked hard for three years and left the list in late 2024, Nigeria wants to make everything better by 2025, and South Africa hopes to fix all its problems by June 2025. When countries stay on this list, bad things can happen. Banks might not want to work with them. People find it harder to send or receive money. Business becomes more difficult. The IMF, a big money group, says countries can lose lots of money when they stay on this list. Many African countries want to change things. They work hard to make better money rules to stop bad people from using money wrongly. When countries make good rules, FATF takes them off the list. This makes everyone happy because business becomes easier again. The good news is that African countries can fix these problems. They need time and must work hard. When they follow the right rules, they can leave the list. This helps their people and makes other countries trust them more. [/QUOTE]

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