Turkey Removed from FATF Money Laundering Grey List
TEHRAN (Tasnim) - The international crime watchdog Financial Action Task Force (FATF) removed Turkey from its "grey list" of countries that require special scrutiny on Friday, in a boost to the country's economic turnaround plan.
Turkey was downgraded to the "grey list" in 2021 on concerns about money laundering and terrorist financing. The latest move came after an FATF team recently held meetings with Turkish authorities to assess progress in addressing those worries.
Turkey has made "significant progress" in improving its regime of anti-money laundering and combating the financing of terrorism, the Paris-based body said in a statement after its plenary meeting in Singapore.
Turkish officials welcomed the move, which is seen as improving its international standing and potentially drawing in fresh investment, Reuters reported.
There are some two dozen nations that are on the "grey list" and considered risky by the FATF, a body that groups countries from the United States to China to tackle financial crime. In February, it removed the United Arab Emirates from the list.
