Turkey removed from money-laundering watchlist

Turkey welcomed the Financial Action Task Force’s (FATF) decision to remove it from the “gray list” of countries needing to improve measures against money laundering and terrorism financing. This move, announced in Singapore, is expected to boost foreign investments in Turkey’s recovering economy. Turkish Finance Minister Mehmet Simsek and Vice-President Cevdet Yilmaz both expressed optimism about the positive impact on investor confidence and the financial sector. The FATF highlighted Turkey’s substantial progress in implementing effective anti-money laundering measures, citing significant investigations and prosecutions. Meanwhile, Jamaica was also removed from the gray list, whereas Monaco and Venezuela were added.