On 10 May, FATF published this report. Turkey has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2019. To reflect Turkey’s progress, FATF has now re-rated the country on the following FATF Recommendations:
23 – DNFPB: 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
Turkey is now compliant on 12 of the FATF 40 Recommendations and largely compliant on 22. It remains partially compliant on 4 Recommendations and non-compliant on 2 Recommendations. It will remain in enhanced follow-up and will report back to FATF on progress achieved on improving the implementation of its AML/CFT measures in June 2023. As usual, effectiveness was not addressed, only technical compliance.
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