Turkey nears removal from FATF grey list, says Treasury head
Date
2/25/2024 2:46:48 AM
(MENAFN) Turkish Treasury and Finance Minister Mehmet Simsek provided a significant update on Friday regarding Turkey's standing with the Financial Action Task Force (FATF). According to Simsek, the process aimed at removing Turkey from the grey list of the FATF has progressed to its conclusive phase. Speaking to a Turkish news agency, Simsek expressed that the FATF has affirmed Turkey's completion of all the stipulated items within an action plan meticulously crafted to bolster the nation's framework for combating money laundering and terrorism financing.
This development marks a pivotal milestone in Turkey's ongoing efforts to fortify its financial regulatory infrastructure and align itself with international standards aimed at safeguarding against illicit financial activities. The comprehensive action plan, meticulously implemented by Turkish authorities, reflects a concerted commitment to enhancing transparency, accountability, and efficacy in combating financial crimes.
"In accordance with the procedure, the evaluation report to be prepared by the FATF team following the visit to Turkey will be discussed at the general assembly meeting in June and the grey list decision for our country is expected to be removed at this meeting," he stated.
Mehmet Simsek underscored that the current milestone achieved by Turkey reflects the culmination of concerted efforts undertaken by various governmental bodies and organizations. He emphasized that ministries such as Justice, Interior, and Foreign Affairs, alongside the Financial Crimes Investigation Board (MASAK), have played pivotal roles in driving forward the necessary reforms and initiatives. Simsek highlighted the coordinated and intensive work conducted by these entities, underscoring their dedication and commitment to advancing Turkey's efforts in combating financial crimes, including money laundering and terrorism financing.
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