While several sectors in South Africa are globally competitive, there are too many sectors that are not. South Africa has to raise its competitiveness across the board, but particularly in the tradable goods and services sector. This is the only long term solution to structural weaknesses in our economy that presents itself through large current account deficits.
x)  'Know Your Customer' (KYC) Guidelines – Anti Money Laundering Standards: Banks were advised in 2002 to follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority.