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Message: [QUOTE="Shamiso, post: 83417, member: 160"] South Africa finally convinced Europe it is not a total haven for dirty cash. The European Union decided to scrub the nation from its High-Risk Third Country Jurisdictions roster following a successful exit from the Financial Action Task Force grey list. Treasury confirmed that being listed was basically an automatic penalty for getting greylisted earlier. Transactions will no longer trigger enhanced due diligence which previously forced European banks to demand extra paperwork and senior manager approval. Cutting that red tape should help investment flows especially if the Agoa trade pact collapses. Nigeria, Tanzania, Burkina Faso, Mali, and Mozambique also managed to escape the blacklist later this month. Officials warned that plenty of work remains regarding the actual prosecution of financial crimes despite technical improvements. Manufacturing confidence remains low regardless of this win. [/QUOTE]