Turkey calls designation of global finance watchdog “unwarranted”
Turkey today criticized a global financial watchdog for adding it to a list of countries that do not adequately tackle money laundering and terrorist financing.
The Financial Action Task Force added Turkey to its “gray list“yesterday. The Paris-based intergovernmental organization’s list includes countries that have” strategic gaps in their anti-money laundering and anti-terrorist financing regimes, “as well as financial services related to nuclear weapons, The countries on the list are working with the task force, according to its website.
Turkey’s Treasury and Finance Ministry criticized the designation today.
“Putting our country on the gray list created an unjustified result”, said the ministry, as reported by the official Anadolu agency.
The ministry said it was working with the task force to be removed from the list.
Turkey has long been accused of financial embezzlement. These include allegations of drug trafficking by associates of President Recep Tayyip Erdogan, illegal oil deals with the sanctioned Venezuelan government, and oil deals by Erdogan’s son-in-law. with the islamic state. The designation could further damage Turkey’s international reputation.
The Financial action group was founded by the G7 group of economically powerful countries in 1989 to help fight money laundering.