Ramazan Eles 
The Financial Action Task Force (FATF) has removed Turkey from its gray list, where it had been placed in 2021 due to concerns about its anti-money laundering and counter-terrorist financing (AML/CFT) measures. Finance Minister Mehmet Şimşek shared a message on social media saying “We did it” along with a Turkish flag emoji, which was interpreted as a confirmation of the removal from the gray list.
FATF Decision
The decision to remove Turkey from the gray list was made during the FATF Plenary Meeting held today. Turkey had been placed on the gray list in 2021 due to concerns about its AML/CFT measures. Research by the International Monetary Fund (IMF) has shown that being on the gray list can lead to a deterioration in relations with foreign banks and investors.
“We Did It” Message from Minister Şimşek
Treasury and Finance Minister Mehmet Şimşek was in Singapore to make a presentation at the meeting where Turkey’s status on the FATF Gray List would be discussed.
What is FATF?
The Financial Action Task Force (FATF) is an intergovernmental organization established in 1989 by the G-7 countries (US, Japan, Germany, France, UK, Italy, and Canada) at a meeting in Paris to establish international standards for combating “money laundering of proceeds from crime, terrorist financing, and the financing of proliferation of weapons of mass destruction” and to promote the adoption of legal and institutional measures compatible with these standards and the operational implementation of these measures in an effective manner. FATF’s mandate has been periodically extended since its inception, and it was made permanent by a decision taken in April 2019. The FATF plenary, which is the decision-making body of the organization, meets three times a year.