The Financial Action Task Force (FATF) assessed that Turkey's Virtual Asset Service Providers (VASPs) generally have a good understanding of money laundering risks and related obligations, and that authorities are also strengthening supervision based on risk levels. However, it pointed out that there are still deficiencies in actual implementation, such as procedures for identifying and managing politically exposed persons (PEPs), including high-ranking public officials, and suspicious transaction reports. FATF added that Turkey's VASP regulatory framework was in its early stages of implementation during the on-site assessment.
