The Financial Crimes Investigation Board (MASAK) has announced that the Financial Action Task Force (FATF) 5th Round Mutual Evaluation Report regarding Turkey has been published. The board stated that no "strategic deficiencies" were identified for Turkey in the report and, therefore, there is no risk of being placed on the grey list.
According to MASAK's statement dated September 23, Turkey was found to be compliant with 38 of the FATF's 40 technical compliance recommendations. In the effectiveness assessment, 3 of the 11 "Immediate Outcomes" were rated as "Substantial Level of Effectiveness," while 8 were rated as "Moderate Level of Effectiveness."
In FATF evaluations, countries' systems for combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction are examined in terms of both legislation and implementation. It had previously been announced that the report on Turkey was adopted at the FATF Plenary in June and would be published following a global quality and consistency review.
In its statement, MASAK argued that the results demonstrate that Turkey has strengthened its capacity to combat financial crimes. The statement noted that work on the issues identified in the report will continue within the scope of the strategy document for combating money laundering and terrorist financing for the 2026-2030 period, and the strategy document for combating the financing of the proliferation of weapons of mass destruction for the 2025-2029 period.
Turkey was removed from the FATF's grey list, known as the list of countries under increased monitoring, in June 2024.
News Source: 12punto
