Turkey awaits critical graft outlook decision

ISTANBUL

Turkey is bracing for a tough week as it awaits the critical assessment of the annual meeting of the Financial Action Task Force (FATF), an international body established to set standards and implement measures to combat money laundering.

The country, which has been on the gray list of the organization because of its money laundering and terrorism financing deficiencies, is at risk of being moved to the “black list” in the wake of corruption allegations against scores of government members and allies.

The FATF is expected to make its decision about Turkey during its annual meeting that started yesterday in Paris and will continue until Feb. 14.

In additon to corruption scandal that also led to a judicial crisis in the country, Turkish companies’ ongoing transactions with Iran, in defiance of sanctions, have been great concern for the organization.