Türkiye‘s Treasury and Finance Ministry has intensified its efforts for Türkiye to be faraway from the “gray list” of the Financial Action Task Force (FATF).
It has been reported that out of the seven deficiencies recognized by the FATF, 5 have been resolved.
On July 10, the ministry and officers from the related ministry and company held their first assembly concerning the remaining two deficiencies.
Through this assembly, the ministry initiated a “rapid and effective” coordination course of.
“Efforts to be intensified to accelerate education and awareness programs on money laundering and terrorism financing. Specialized public prosecutor’s offices and competent courts have been established in all provinces, and guidelines have been prepared for the investigation process. Training programs to increase awareness will be expedited,” stated the ministry.
Special working workplaces have been established and technical groups have been fashioned to strengthen Türkiye’s constructive notion within the worldwide group, it added.
Finance Minister Mehmet Şimşek harassed within the assembly that “Türkiye continues to demonstrate determination and sincerity in combating money laundering and terrorism financing in line with the international standards set by the FATF, and that the country has accelerated their efforts to address the deficiencies identified by the FATF.”
“In order to address the remaining deficiencies swiftly and efficiently, coordinated action will be taken in conjunction with several ministries and agencies,” he added.
Emphasizing the significance of addressing these deficiencies “rapidly and in coordination”, specialised courts and prosecutors’ workplaces answerable for combating cash laundering and terrorism financing have been decided, and particular investigation workplaces have been established.
Şimşek additionally harassed that “Türkiye will quickly fulfill the necessary requirements to be removed from the FATF gray list and strengthen the country’s positive perception in the international community.”
Referring to the adverse results of being included within the grey checklist, he stated that being listed results in “a decrease in capital inflows up to a certain percentage of the gross domestic product” and “an increase in the cost of syndicated loans.”
FATF serves because the worldwide watchdog for cash laundering and terrorist financing. Its major goal is to ascertain world requirements aimed toward stopping these illegal actions and mitigating the ensuing societal injury.
Türkiye grew to become a member of FATF in 1991 and has been topic to an intensified follow-up course of for the reason that analysis of its measures in opposition to cash laundering and terrorist financing in 2019.
Source: www.anews.com.tr
