FATF and Turkey’s Grey List Status
The Financial Action Task Force (FATF), which assesses countries’ compliance in combating financial crimes, placed Turkey on its so-called grey list in 2021 due to its inadequate measures against money laundering and the financing of terrorism. Since then, Turkey has aligned itself with 39 out of the 40 standards set by the FATF.
Recent Assessment Visit
Last month, a FATF delegation visited Turkey to evaluate the country’s practices in preventing money laundering and illegal financing on-site.
Expectations for the Future
The economic management in Turkey is hopeful about the country’s removal from the grey list. A significant portion of international investment funds are currently unable to invest in countries on the grey list due to regulatory reasons.
Opportunities Following Removal
If Turkey is removed from the grey list, these funds will be able to invest in the country.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
