The Financial Action Task Force (“Task Force”) will commence its Fourth Round of Mutual Evaluations for Turkey in October 2018. The Task Force establishes international standards to fight against money laundering and terrorist financing. Since 2014, all member countries are subject to evaluations which require countries to carry out a “National Risk Evaluation” process. The Task Force is an inter-governmental body and Turkey has been a member since 1991.
The tentative date for the Task Force’s Evaluation Committee to visit Turkey has been announced as March 2019, with the Task Force’s General Assembly scheduled to discuss the evaluation report in October 2019.
Circular No. 2016/22 (“Circular”) was published in Official Gazette numbered 29864 on 21 October 2016.
The Circular announces that a National Risk Evaluation Project and Project Action Plan will be prepared in coordination with the Financial Crimes Investigation Board. Its purpose is to review domestic legislation, take necessary measures and effectively carry out related process.
A Project Guidance Committee is also established, consisting of 19 members under the presidency of the Undersecretary of the Ministry of Finance. Its purpose is to ensure coordination and cooperation during the project.
Please see this link for the full text of the Circular (available only in Turkish).
