Turkey remains on gray list of FATF despite statement by Finance Minister SIMSEK

Despite the statement of Treasury and Finance Minister Mehmet Şimşek that “Turkey would be removed from the grey list”, Turkey could not get out of the grey list in the latest report of the International Financial Action Task Group (FATF) on “Money Laundering”.

Minister Simsek, who made a statement on the issue last week had said, “Turkey’s fight against black money and terrorist financing continues with determination. By completing these deficiencies as soon as possible, it will be ensured that Turkey will be removed from the gray list.”

He had also said following: “In the following process, the necessary steps will continue to be taken in cooperation with the FATF and all relevant institutions, and the necessary steps will be taken to get our country out of the undeserved gray list process as soon as possible. All public institutions and organizations continue to work intensively under the coordination of MASAK in order to eliminate the remaining elements in question as soon as possible, and all possibilities are being mobilized for the termination of the ‘gray list’ process.”

PROMINENT JOURNALIST REPORTS TURKEY STILL ON GRAT LIST

A prominent journalist Çiğdem Toker wrote that Turkey could not get out of the ‘grey list’ despite this statement by Şimşek. Toker wrote: “FATF gathered on June 21-23 and made a written statement explaining the latest current status of the gray list: Turkey is still on the gray list. So Turkey couldn’t get off the list because it couldn’t complete the assignments, previously committed to.”

Toker conveyed the deficiencies identified by the FATF regarding Turkey as follows: “The FATF records that there are deficiencies in two assignments of Turkey.

2 SHORTCOMINGS HIGHLIGHTED AS STRATEGIC

These two shortcomings, highlighted as ’strategic’, are listed as follows:

– Turkey needs to undertake more complex investigations and prosecutions related to money laundering.
– Turkey needs to conduct more financial investigations in terrorism cases. In this context, the United Nations should give priority to the investigations and prosecutions of the financing of terrorism related to the groups it has identified.

‘ALL DEADLINES HAVE EXPIRED’

Toker pointed out that Turkey used all the time in the calendar and continued as follows: “In other words, Turkey has used all the calendars and deadlines set for homework in the black money struggle. FATF uses the phrase ‘as soon as possible’ here in its assessment. In other words, it emphasizes the need to complete the deficiencies as soon as possible. From here, we understand that in order for Turkey to get off the gray list, cases related to money laundering will increase in our country, more complex investigations will be conducted, and priority will be given to investigations related to terrorist-related groups announced by the UN. We’ll see.”