'Europe & The West Finances Terrorism': Turkey Denounces Addition To FATF 'Grey List'

"It is Europe and the West that finances terrorism and gives it strength and direction. We are the ones who pay the price and struggle of this, but it is Turkey that they blame", said Turkey Minister

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New Delhi: The Interior Minister of Turkey Suleyman Soylu said the decision of tasking intergovernmental body known as the Financial Action Task Force (FATF) with combating money laundering and terrorist funding decision in the so-called "grey" monitoring list is a political move.

"We all know that this decision is not a just and appropriate decision, but a political decision," he said at a press conference reported IANS.

"It is Europe and the West that finances terrorism and gives it strength and direction. We are the ones who pay the price and struggle of this, but it is Turkey that they blame."

The FATF is also placed at Mali and Jordan on its increased monitoring list.

FATF President Marcus Pleyer during a press conference on Thursday said that Turkey needs to address "serious issues of supervision" in its banking and real estate sectors, and with gold and precious stones dealers.

"Turkey needs to show it is effectively tackling complex money laundering cases and show it is pursuing terrorist financing prosecutions in line with its risks and prioritizing cases of UN-designated terrorist organisations such as IS and Al Qaeda," he said, as quoted by IANS.

The Turkish Treasury and Finance Ministry on Friday said downgrading Ankara to the grey list despite coordination work with the watchdog has created an unwarranted result, noting that Ankara has taken steps considering the report of FATF.

"Our country introduced on December 27, 2020, a law preventing the financing of the proliferation of weapons of mass destruction," it said in a statement noting that Turkey has made notable progress under FATF standards during the pandemic.

Ankara will continue to take necessary steps in cooperation with FATF and it will ensure that Turkey will be removed from this list as soon as possible, the Ministry added.