An international watchdog includes Turkey on the “gray list” … Another blow to the economy

The Financial Action Task Force (FATF), an international watchdog, on Thursday included Turkey on the so-called “gray list” for its inability to tackle money laundering and terrorist financing. in a decision that could lead to a further decline in foreign investment income in the country.

The Group of Seven (FATF) was formed to protect the global financial system. The FATF has also included Jordan and Mali in its enhanced financial activity monitoring list, known as the gray list.

The group excluded Botswana and Mauritius from the list, which currently includes 23 countries, citing progress.

can bring add the turkey The drop in foreign investment following the exit of investors in recent years, and the rapid exit of the lira in recent weeks, increases this list.

In a press conference, FATF President Marcus Blair said Turkey faces “serious oversight problems” in the country’s banking and real estate sectors and the country’s gold and gem traders.

He added: “Turkey has to show that it faces in effectively complex money laundering cases, tracking terrorist financing operations through prosecution … and prioritizing issues related to organizations that the United Nations has designated as terrorist, such as the “Islamic State”. ‘and al-Qaeda “.

“Despite our work to adapt (measures required), our country was placed on the gray list, a result we did not deserve,” the Turkish Treasury said. in a release late Thursday evening.

“In the next period, we will continue to take the necessary steps to cooperate with the FATF and all relevant institutions, to ensure that our country is removed as soon as possible from this undeserving list,” the ministry added.

Other countries on the FATF gray list include Pakistan, Morocco, Albania and Yemen.

A research from the International Monetary Fund’s questyear concluded that inclusion in tale The list reduces capital flows by around 7.6% of GDP and also negatively affects the flow of foreign direct investment.

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