Türkiye has been removed from the "grey list": What does the decision of the Financial Action Task Force mean?

Türkiye was removed from the “grey list” by the Financial Action Task Force (FATF). This decision holds significant implications in the realm of combating financial crimes.

The FATF evaluates countries’ performances in combating money laundering and the financing of terrorism. Türkiye had been placed on the grey list in 2021 due to perceived shortcomings in these areas. However, the recent decision signifies that Türkiye has made “significant progress” and is no longer subject to the FATF’s monitoring process.

The announcement was made during a meeting in Singapore. Türkiye’s Minister of Treasury and Finance, Mehmet Şimşek, shared the news on his social media account with the message “We did it.”

The FATF, headquartered in Paris under the Organisation for Economic Co-operation and Development (OECD), plays a crucial role in international efforts against money laundering. The grey list, compiled by FATF, is updated every three years and includes countries deemed to have deficiencies in their anti-money laundering and counter-terrorism financing measures.