Türkiye's progress in strengthening measures to tackle money laundering and terrorist financing

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Language

English

Country

Türkiye

Türkiye 2023 Follow-Up Report

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Türkiye-Follow-Up-Report-2023.pdf
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2 MB
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application/pdf
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20 July 2023 - Türkiye has taken positive steps towards improving its AML/CFT regime.

As a result the country has been re-rated on six recommendations:

  • Recommendations 8, 22 and 28 are re-rated from Partially Compliant to Largely Compliant
  • Recommendation 12 is re-rated from Non Compliant to Compliant
  • Recommendation 15 is re-rated from Largely Compliant to Partially Compliant
  • Recommendation 26 is re-rated from Partially Compliant to Compliant

The three follow-up reports and subsequent re-ratings since the 2019 assessment of Türkiye’ s AML/CFT framework highlight the progress that Türkiye has made to strengthen its measures to combat money laundering and terrorist financing.

Türkiye now only has one Recommendation left rated PC (R.15) and no recommendations rated NC.

Türkiye will report back to the FATF on progress achieved in improving the implementation of its AML/CFT measures in its 5th round mutual evaluation.

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Turkey Follow-Up Report - 2023

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
C
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
LC
R.7 - Targeted financial sanctions related to proliferation
LC
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
C
R.12 - Politically exposed persons
C
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
LC
R.15 - New technologies
PC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
C
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
C
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
LC
R.23 - DNFBPs: Other measures
C
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
C
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
LC
R.29 - Financial intelligence units
C
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
LC
R.33 - Statistics
LC
R.34 - Guidance and feedback
LC
R.35- Sanctions
LC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
C
R.38 - Mutual legal assistance: freezing and confiscation
C
R.39 - Extradition
C
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Earlier reports

Turkey's measures to combat money laundering and terrorist financing

16 Dec 2019

Turkey has understood the risks it faces from money laundering and terrorist financing but serious shortcomings remain, including the need to improve measures for freezing assets linked to terrorism and proliferation of weapons of mass destruction.
Read more

  • 10 May 2022

    Turkey's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses Turkey's progress in addressing the technical compliance deficiencies identified in its 2019 Mutual Evaluation and since its 2021 follow-up report.

  • 30 Nov 2021

    Turkey's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses Turkey's progress in addressing the technical compliance deficiencies identified in its 2019 Mutual Evaluation.

  • 22 Oct 2014

    Mutual Evaluation of Turkey : 15th Follow-Up Report Turkey has made significant progress in addressing deficiencies in its measures to combat money laundering and the financing of terrorism, as identified in its February 2007 mutual evaluation report. This follow-up report provides an overview of the main changes since the 2007 evaluation of Turkey's level of compliance with the FATF Recommendations.

  • 23 Feb 2007

    Mutual Evaluation of Turkey The report of the mutual evaluation of Turkey was adopted by the FATF Plenary in February 2007. This report provides a summary of the anti-money laundering (AML) and combating the financing of terrorism (CFT) measures in place in Turkey at September 2006 (the date of the on-site visit) and also considers the new AML legislation passed in October 2006. The mutual evaluation report describes and analyses those measures and provides recommendations on how certain aspects of the system could be strengthened. It also sets out Turkey’s levels of compliance with the Financial Action Task Force (FATF) 40 + 9 Recommendations

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