Turkey expected to exit financial watchdog’s grey list
Turkey’s finance minister said on Friday “we succeeded”, a remark that appeared to indicate the international crime watchdog Financial Action Task Force is about to announce the removal of Turkey from its “grey list” of countries requiring increased scrutiny.
The FATF is scheduled to announce the outcome of its plenary meeting in Singapore at 0900 GMT. Finance Minister Mehmet Simsek, who is attending the meeting, made the comment followed by an emoji of the Turkish flag on the social media platform X.
Turkey was downgraded to the FATF “grey list” in 2021 on concerns about the effectiveness of its measures to combat money laundering and terrorist financing. A decision to remove Turkey from the list, if confirmed, is seen boosting Turkey’s international standing and prospects of attracting investment.
There are some two-dozen nations that are on the “grey list” and considered risky by the FATF, a body that groups countries from the United States to China to tackle financial crime. In February it removed the United Arab Emirates from the list.
The FATF said in February that Turkey “has substantially completed its action plan” and warranted an on-site assessment. It held talks in Turkey last month to evaluate the country’s actions against money laundering and illegal financing.