Turkey escapes alignment of EU list of jurisdictions with strategic AML/CFT deficiencies with FATF grey list
Turkey has not been included in a new European Union (EU) List of Third-country Jurisdictions which have Strategic Deficiencies in their Anti-Money Laundering / Counter Terrorist Financing (AML/CFT) Regimes. The list was revised earlier this month so that, with the exception of Turkey, it aligns…
Trade-based financial crime features in Turkey’s downgrade to FATF’s grey list
Concerns over trade-based financial crime contributed to the decision by the Financial Action Task Force (FATF) to add Turkey to its grey list of jurisdictions subject to increased monitoring for failing to adequately implement anti-money laundering and counter financing of terrorism(AML/CFT) measures. Jordan and Mali…
Halkbank pleads not guilty to sanctions busting trade-based financial crimes
Halkbank, the large Turkish state-owned bank that has been accused in the US of substantial sanctions violations, has pleaded not guilty at a Manhattan court to criminal charges that it helped Iranian entities illicitly transfer tens of billions of dollars in a scheme that used…
Turkey clamps down on ships misdeclaring fuel in smuggling operations
Turkish customs officials are increasingly investigating ships trading in Turkey in response to concerns that some ships are misdeclaring the amount of fuel they are carrying to facilitate a smuggling scheme. Ships’ crews are suspected of selling fuel over and above the amount declared without…
