Mehmet Şimşek's statement on the grey list: Does the risk persist?

Responding to a parliamentary question submitted by CHP Istanbul Deputy Fethi Açıkel, Minister of Treasury and Finance Mehmet Şimşek stated that the audit process conducted by the Financial Action Task Force (FATF) is ongoing. Emphasizing that there is no longer any justification for Turkey to be included on the grey list again thanks to the improvements made, Şimşek stated, "There is no risk of our country entering the grey list."

DEVELOPMENTS IN THE GREY LIST PROCESS

Minister Şimşek noted that Turkey has achieved almost complete technical compliance with FATF standards and that the relevant standards are being implemented effectively. He recalled that Turkey was placed on the grey list at the General Assembly in October 2021 and was removed from the list in June 2024 upon the completion of the targets set in the action plan prepared during that period. Şimşek noted that efforts are continuing to increase effectiveness in implementation.

Mehmet Şimşek reported that the "Strategy Document for Increasing Effectiveness in Combating Money Laundering and Terrorist Financing and Confiscation Practices in Turkey (2021-2025)" was created to take more effective steps in combating money laundering and the financing of terrorism in Turkey. He added that work is also underway to update the strategy document for the 2026-2030 period.

Minister Şimşek further stated that comprehensive structural measures have been implemented to develop the administrative and technical capacity of MASAK, and that while legislation has been strengthened, particularly with regulations concerning crypto asset service providers, MASAK's audit capacity and the number of audits have been increased.

Şimşek shared the information that, "Measures regarding the effective conduct of judicial and administrative processes related to money laundering and terrorist financing crimes in our country, increasing the effectiveness in obtaining and using financial intelligence, and consequently depriving criminals of the proceeds of crime are being implemented in a coordinated manner."

News Source: 12punto