FATF removes Turkey from gray list over fight against terror financing.

FATF removes Turkey from gray list over fight against terror financing. (Taz)

Turkey will be removed from the gray list of the Financial Action Task Force (FATF) -- the international body responsible for setting global standards for combating terrorist financing -- as the country has made sufficient improvements regarding the relevant standards, according to a report recently released by the organization.

According to the report, “Turkey has reached a satisfactory level of compliance with all core recommendations and four of the five key recommendations” offered by the FATF.

The report concluded that Turkey should be removed from the “regular follow-up process.”

The report said Turkey had made substantial process regarding the alteration of its criminal law pertaining to money laundering offenses and had significantly improved its terrorist financing combat regime. Turkey was the only NATO member on the gray list. Hmmmm.....The 'Cost' for using Incirlik? 'four of the five key recommendations'....what's Nr 5? Iran gold trade, Oil trade? Gas trade? Read the full story here.