The Financial Action Task Force on Money Laundering (FATF) plans to remove Turkey from its “grey list” of jurisdictions subject to enhanced monitoring. Report news agency writes about this with reference to the Turkish publication Hurriyet.
Turkey has been on the gray list since 2021, as FATF inspectors found its efforts to combat money laundering at the national level insufficient. Official Ankara then called the Group’s decision “unfair”, but took measures to improve its situation.
“FATF inspectors conducted closed inspections in Turkey in early May. The final report notes the significant progress Turkey has made in the fight against money laundering. If such a positive atmosphere continues... then removing us from the “grey list” is a matter of the very near future,” Hurriyet wrote.
The decision to lift the enhanced monitoring regime from Turkey may be made on June 28, 2024 at the FATF meeting in Singapore, at which Ankara is represented by Turkish Finance Minister Mehmet Simsek.
FATF, founded in 1989, is an intergovernmental organization that develops global standards to combat money laundering and the financing of terrorism. It also assesses the compliance of national systems with these standards. Turkey joined the organization in 1991.
