Turkey may be “greylisted” by the Financial Action Task Force (FATF) since it has reportedly failed to combat terrorist financing and money laundering.
The Financial Times reported that that global financial watchdog may approve the decision to put Turkey on the “grey list”.
The report said Turkey was “put on notice” two years ago by the FATF. The financial body had declared that although Turkey understood “the risks it faces from money laundering and terrorist financing” but it found “serious shortcomings”.
FATF officials may move to put Turkey on the list on Thursday in Paris, the report claimed. In June, the FATF had decided to keep Pakistan on the “grey list” even as the Imran Khan government claimed it had implemented 26 of the 27 points forwarded by the body to enable it to exit the list.