Financial watchdog urges Turkey to step up efforts against money laundering

Pedro Gonçalves
clock • 2 min read

Turkey has been warned by an international watchdog to improve "serious shortcomings" in tackling money laundering and terrorist financing or face being added to a "grey list" should it fail to improve over the coming year. In a report, Anti-money laundering and counter-terrorist financing measures: Turkey, Paris-based Financial Action Task Force (FATF) stated that Turkey has a low rate of conviction for terrorism financing, pointing to data that the watchdog obtained from authorities showing more than 6,000 people were prosecuted in 2017 but only 115 convicted. Out of 11 areas evalua...

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