
Illicit money warning to Turkey: Turkey can be added to the 'Grey list'

2019-12-16 14:32:53


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	NEWS CENTER - Turkey has been warned by an international watchdog to improve “serious shortcomings” in its approach to combating money laundering and terrorist financing or face being added to an international “grey list” — a step that could damage its ability to attract foreign financing.

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	The warning by the Financial Action Taskforce (FATF) comes in a report by the body, published on Monday, that found the country lacking in a series of standards.&nbsp;

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	Ankara will be now subject to special monitoring by the organisation, which was founded in 1989 to combat to combat money laundering, terror financing and other similar threats to the integrity of the international financial system.

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	If it fails to improve over the coming year, it risks being added to an FATF “grey list” along with countries such as Pakistan, Mongolia and Yemen.

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