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Turkey to expand its fight against money laundering

Turkey is determined to expand its fight against money laundering and financing of terrorism.  Turkey's Financial Crimes Investigation Board (MASAK) will increase the number of countries it cooperates regarding financial intelligence sharing on money laundering and financing of terror. Already signed memorandum of understanding with 35 countries since 2006, Turkey would like to increase the number to 38 in 2013, and France, Italy and Spain are on the list of MASAK.   Those memorandums contribute fast and effective support on efforts of fight against money laundering and financing of terror, both in theoretical and practical ways.      

Authorities say it is impossible to know the exact amount of revenues subjected to money laundering but according to a UN estimation, criminals, especially drug traffickers, may have laundered around 1.6 trillion USD, or 2.7 percent of global GDP, in 2009.          

Here is the list of countries MASAK has been cooperating regarding financial intelligence sharing on money laundering and financing of terror, and the years they signed a memorandum;           

TRNC (2006)     

Indonesia, Portugal, Sweden (2007)     

Mongolia, Afghanistan, Georgia, Albania, Syria, Romania (2008)     

Croatia, Macedonia, South Korea, Bosnia-Herzegovina (2009)     

Japan, Ukraine, Norway, Jordan, Senegal, Luxembourg (2010)     

Britain, Canada, Monaco, Finland, Belarus (2011)     

US, Poland, Netherlands, Kosovo, Malaysia, Belgium (2012)     

Russia, Philippines, South Africa, Germany (2013)

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