New Documents

The European Commission published a report on Turkey’s progress in implementing necessary regulatory reforms as part of the country’s accession negotiations with the European Union.

The governments of Turkey, Afghanistan, and Iran issued a joint statement summarizing the outcome of the countries’ June 20, 2021 Trilateral Meeting of the Ministers of Foreign Affairs.   

Enforcement Actions

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Important Facts

  • The U.S. Department of State classifies Turkey as a major money laundering jurisdiction. The country’s rapid growth, combined with its commercial relationships and geographical proximity to unstable, conflict-ridden areas like Iraq, Syria and Crimea makes Turkey vulnerable to money laundering and terrorist financing risks. Conflicts on Turkey's southern border have also increased illicit finance risks. The country is a hub for licensed and unlicensed money remitters, as well as smugglers that use routes in the country to smuggle weapons into Syria, smuggle migrants out of Syria, and to further human trafficking. Other crimes related to money laundering occur through alcohol, fuel, and tobacco smuggling. Criminals use front companies and shell companies to conceal illicit proceeds as legitimate income. Moreover, individuals and businesses operate as unlicensed money remitters by using their bank accounts to move illicit proceeds through the financial system. Turkey's nonprofit sector is additionally vulnerable to financial crimes as the sector is not audited for money laundering activity. Although the country has adopted know-your-customer and suspicious transaction reporting regulations for banks, bank or credit issuers, authorized exchange houses, and other financial services, politically exposed persons are not subject to enhanced due diligence.  According to Turkish authorities, illicit proceeds are used to acquire real estate and precious metals and stones.  U.S. officials have designated Turkey as a destination for illicit proceed from cyber-fraud perpetuated in the U.S. In 2019, the U.S. indicted Turkey's state-owned bank on charges of fraud, money laundering, and participation in a multibillion-dollar scheme to evade U.S. sanctions on Iran.
Source: 2020 International Narcotics Control Strategy Report (INCSR)  


FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 11 High : 0
Largely Compliant : 17 Substantial : 2
Partially Compliant : 10 Moderate : 7
Non-Compliant : 2 Low : 2


Rank : 41/141
Score : 5.76/10


Rank : 91/180
Score : 39/100

Tax Justice Network i

Rank : 55/133
Score : 60/100