Turkey Chided Over Financial Crime Controls, Sanctions Policy

Turkey has been told to urgently address “serious shortcomings” in its anti-money laundering (AML) and counter-terrorist financing (CTF) framework.

The Financial Action Task Force (FATF), which sets international standards for regulation of financial crime, found that holes remain in the country’s efforts to tackle dirty money, despite rapid progress over the last decade. 

Turkey’s location abutting conflict zones in Iraq and Syria make the country a hub for terrorist groups to raise and transfer money, but the FATF evaluators found that financial institutions do not always understand the risks of terrorist financing. 

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial