Turkey's economy in trouble but President Erdogan keeps to his unorthodox ways

Turkey was singled out by a global financial watchdog over its alleged failure to fight money laundering and the financing of terror, in a significant blow that could see the country’s economy lose billions in foreign investment.

The Paris-based Financial Action Task Force (FATF), an inter-governmental organisation that acts as the standard-setter on countering money laundering, maintains a “blacklist” of countries facing isolation from the world financial system since they are not in compliance with regulations, as well as a “grey list” of nations subjected to the less draconian treatment of special monitoring until they comply will all financial security requirements.

Please subscribe or log in to continue reading the full article.

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article