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

Publication details

Language

English

Country

Türkiye

Turkey Follow-Up Report 2022

10 May 2022 - Since the 2019 assessment of Turkey’s measures to tackle money laundering and terrorist financing and its 2021 follow-up report, the country has taken a number of actions to strengthen its framework.

Turkey has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2019. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since its mutual evaluation and its subsequent follow-up report. Consequently, to reflect Turkey’s progress, the FATF has now re-rated the country on the following Recommendations:

23 - DNFPBs : Other measures - from partially compliant to compliant

24 - Transparency and beneficial ownership of legal persons - from partially compliant to largely compliant

25 - Transparency and beneficial ownership of legal arrangements - from partially compliant to largely compliant

Today, Turkey is compliant on 12 of the 40 Recommendations and largely compliant on 22 of them. It remains partially compliant on 4 Recommendations and non-compliant on 2 Recommendations.

Turkey will remain in enhanced follow-up and will report back to the FATF on progress achieved on improving the implementation of its AML/CFT measures in June 2023.

Follow Up Report Turkey - 2022

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Follow-Up-Report-Turkey-2022.pdf
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Technical Compliance

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

Turkey Follow-Up Report - 2022

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
PC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
C
R.12 - Politically exposed persons
NC
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
LC
R.15 - New technologies
NC
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
PC
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
PC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
PC
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

  • 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.

  • 16 Dec 2019

    Turkey's measures to combat money laundering and terrorist financing 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.

  • 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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