Türkiye has been removed from the grey list of the Financial Action Task Force (FATF) after three years of efforts.
Türkiye will no longer be subject to the FATF’s increased monitoring process, the international watchdog said on Friday following its plenary meeting, thanks to Türkiye's action plans to resolve the identified strategic deficiencies within agreed timeframes.
The plenary congratulated Türkiye for its "significant progress in addressing the strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies previously identified" during its mutual evaluations.
"Türkiye is therefore no longer subject to the FATF’s increased monitoring process," the watchdog said.
Ankara has welcomed the decision.
"Foreign inflows into Türkiye will accelerate after the international crime watchdog Financial Action Task Force (FATF) removed the country from its 'grey list,' Vice President Cevdet Yilmaz said on Friday.
"The disinflation process will also speed up with the acceleration of capital flows to our country and the increase in interest in Turkish lira assets," Yilmaz said in a post on social media platform X.
"Thanks to the right steps taken, Türkiye has been removed from the grey list," the Turkish Treasury and Finance Ministry said in a statement.
'Fight against money laundering, terrorist financing will continue'
Türkiye will continue to fight against money laundering and terrorist financing with determination in full compliance with international standards, the statement added.
The ministry pledged to further strengthen the administrative and technical capacity of Türkiye’s Financial Crimes Investigation Board (MASAK) and to implement legal and administrative regulations "with the same sensitivity."
Earlier on Friday, in expectation of the good news on the long-pursued goal, Treasury and Finance Minister Mehmet Simsek wrote on X, simply: "We made it.”
