Financial Action Task Force

Türkiye is committed to combating global money laundering and terrorist financing, Treasury and Finance Minister Mehmet Şimşek said, adding that the country should be removed from the Financial Action Task Force's (FATF) gray list.

Bitcoin rose 1.4% on Tuesday, ending the day around $41,300 and remaining near that mark on Wednesday morning. Ethereum added 1.3% to $3080 in the last 24 hours, XRP corrected 0.9% to 0.766, and other top ten altcoins gained 0.7% (BNB) to 4.9% (Terra).

Turkey's Ministry of Treasury and Finance said the grey listing of the country on Oct. 21 by the Financial Action Task Force (FATF) was unfair.  

"Despite coordination studies, putting our country on the grey list has created a result that is unwarranted," the ministry said in a statement. 

Serbia is among several countries that have misused legislation passed to meet Financial Action Task Force, FATF, standards to combat money laundering and terrorism financing to investigate critical voices and NGOs, Reuters reported on Thursday.

A draft law on the prevention of the financing of the proliferation of weapons of mass destruction (WMDs) contains some additional provisions that allow the government to arbitrarily suspend the activities of the non-governmental organizations, the main opposition Republican People's Party (CHP) has stated.

The Turkish financial crimes unit slammed a global money laundering watchdog report against the country's money laundering efforts.

"Turkey's struggles weren't revealed in the report. [Turkey] was subjected to unfair assessment," Turkey's Financial Crimes Investigation Board (MASAK) officials told Anadolu Agency on Dec. 19 on a recent report by the Financial Action Task Force (FATF).

Turkish authorities must address shortcomings in tackling money laundering and terrorism financing or face being added to a "grey list" of countries with inadequate financial controls, according to a global money laundering watchdog.

Drug trafficking in Greece in 2016 is estimated at 200 million euros, while the amount of taxes lost as a result of cigarette smuggling in the same year is put at 431.8 million euros, and illegal migrant trafficking is seen as having led to gains of 367 million euros for the smugglers.

The Council of Europe's body for preventing money laundering and the financing of terrorism, MONEYVAL, has released a statement saying that Serbia has progressed in meeting recommendations in the area, but that it will remain under a regime of heightened supervision and that it is supposed to hand in a new progress report in December 2019.

The EU's committee of permanent representatives (Coreper) today endorsed an agreement between the Council, represented by the Bulgarian presidency, and the European Parliament on a draft regulation aimed at improving controls on cash entering or leaving the Union.