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Financial crime watchdog removes Turkey from money laundering ‘gray list'

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The FATF had previously found Turkish sectors like banking and property vulnerable to illicit financing of groups like the Islamic State and al-Qaeda.

The Financial Action Task Force removed Turkey from its"gray list" of countries that need special monitoring, handing a major vote of confidence to the country in the midst of its economic turnaround efforts.

It said that Turkey had strengthened the effectiveness of its AML/CFT regime to address"deficiencies" that FATF listed in its October 2021 monitoring report. Sam Altman says Airbnb's CEO gave him countless hours of advice on growing OpenAI: He was ‘almost always right'The watchdog organization concluded in its 2024 findings that Turkey is"no longer subject to the FATF's increased monitoring process," but that it"should continue to work with the FATF to sustain its improvements in its AML/CFT system, including by continuing to ensure its oversight of the NPO sector is risk-based and in line with the FATF standards.

 

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Turkey welcomes removal from a key money-laundering watchlist, hoping to boost foreign investmentTurkey has welcomed a decision by an international watchdog to remove it from a so-called “gray list” of countries that have not fully implemented measures to fight money laundering and terrorism financing. The decision, announced by the Financial Action Task Force in Singapore on Friday, could bolster foreign investments in Turkey.
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