Turkey has recently been added to the Financial Action Task Force (FATF) blacklist, which aims to combat money laundering. The country’s Minister of Finance, Mehmet Simsek, announced this decision, stating that no objections were raised and that Turkey’s inclusion in the blacklist was unanimously accepted. Simsek expressed concern over the negative impact that being on the blacklist could have on Turkey’s international reputation and its investment potential. The decision to include Turkey in the FATF blacklist was made during a plenary session held in Singapore in June. The FATF, established in 1989, is an inter-governmental organization that works to develop international standards to combat money laundering and terrorism financing.