Turkish Finance Minister Şimşek calls for consistent FATF standards across all jurisdictions
Turkish Treasury and Finance Minister Mehmet Şimşek told the 'No Financing for Terror' conference in Paris that Financial Action Task Force (FATF) standards must be applied consistently across all jurisdictions. Turkey exited the FATF grey list in 2024 after a multi-year compliance push.
Turkish Treasury and Finance Minister Mehmet Şimşek joined the ministerial session of the 'No Financing for Terror' conference in Paris on Tuesday. 'Consistent implementation of FATF standards across all jurisdictions is essential for the integrity of the global financial system,' he said. The French finance minister and representatives from dozens of countries attended.
Şimşek referred to Turkey's exit from the FATF grey list in late 2024, saying: 'Our three-year reform programme delivered a structural transformation in countering money laundering and terror financing.' According to ministry data, Turkey reviewed more than 320 billion lira of suspicious transaction reports in 2024. The audit capacity of the MASAK financial intelligence unit was also expanded.
Topics covered at the conference included crypto-asset regulation, sanctions-evasion schemes and the monitoring of online fundraising platforms. Şimşek also said Turkey continues technical engagement with the US Treasury on sanctions on Iran. The conference is a preparatory step toward the FATF plenary in June.
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