FATF places Turkey on Grey List
Besides Turkey, Jordan and Mali were also added to the grey list, while Botswana and Mauritius were removed from the list. The global money laundering watchdog retained Pakistan on the grey list.
Paris: The Financial Action Task Force (FATF) placed Turkey on the grey list for shortcomings in combating money laundering and terrorism financing.
Besides Turkey, Jordan and Mali were also added to the grey list, while Botswana and Mauritius were removed from the list. The global money laundering watchdog retained Pakistan on the grey list.
The FATF placed Turkey under surveillance for shortcomings in combating money laundering and terrorism financing.
“Serious issues remain” in Turkey’s controls over financial operations, FATF head Marcus Pleyer said at a press conference.
He said it is crucial for Turkey to make sure it tackles terrorism financing and money laundering.
Pleyer said the Turkish government “has given a high level commitment to continue its efforts to improve its anti-money laundering system”.
“I urge them to turn this commitment into action,” he added.
The FATF decision comes as Turkey is already in the midst of an economic crisis that has seen its currency slide and inflation hit nearly 20 percent.
Turkey has in the past strongly backed Pakistan at the FATF meetings to ensure the global watchdog does not put Islamabad in the black list.
