Archive · 10 Nov 2025
FATF Crime Watchdog to Visit Turkey Following 'Grey List' Exit
Imagine a club for countries that are really good at stopping bad guys from hiding or moving illegal money.
Turkey was on a special watch list, kind of like a warning list, because it wasn't doing enough to catch these money launderers and those who help terrorists.
But Turkey worked hard to get better, and the club took it off the warning list last year.
Now, a team from the club is coming to visit Turkey to see if it's still doing a good job.
They will meet with money experts and banks to check everything.
If Turkey has kept up its good work, it can keep its good reputation.
If not, it might go back on the warning list, which is not good for its money dealings with other countries.
The Financial Action Task Force (FATF) will send a team to Turkey in November for an on-site evaluation.
The visit follows Turkey's exit from the FATF's 'grey list' in 2022, a list for countries needing special scrutiny on money laundering and terrorist financing.
Meetings are scheduled between November 24-28 with Turkey's Financial Crimes Investigation Board (MASAK), banks, and payment service firms.
Turkey faces the risk of returning to the grey list if it fails to demonstrate continued commitment to combating financial crimes.
Ahead of the visit, Turkish authorities have intensified probes into alleged money laundering, suspending or seizing assets of numerous companies, including payment firms.
- Who
- A team from the Financial Action Task Force (FATF)
- What
- Will visit Turkey to evaluate its progress in combating money laundering and terrorist financing after its removal from the FATF's 'grey list'.
- When
- November 2023, with meetings scheduled from November 24-28.
- Where
- Turkey, with meetings involving MASAK, banks, and payment service firms.
- Why
- To ensure Turkey is meeting its commitments to fight illicit financial activities and avoid returning to the 'grey list', which would negatively impact its financial standing.
- Organization
- Financial Action Task Force (FATF)
- Purpose of Visit
- Evaluate Turkey's progress in fighting money laundering and terrorist financing.
- Timeline
- November 2023 (specific dates Nov 24-28 mentioned for meetings)
- Key Turkish Body Involved
- Financial Crimes Investigation Board (MASAK)
- Sectors Under Scrutiny
- Banks, payment service firms, virtual asset regulation, real estate
- Previous FATF Listing
- Placed on grey list in October 2021
- Outcome of Previous Review
- Removed from grey list in 2022 due to progress