Terrorism costs Turkey $1 trillionStaff writer ▼ | December 29, 2014
Turkey has lost some $350 billion directly and $1 trillion indirectly over the last 30-40 years due to terrorism and its spillover effects, said Finance Minister Mehmet Şimşek.
Big money Finance Minister of Turkey:
The eastern and southeastern regions of the country couldn’t attract direct investment, despite fertile agricultural soil and a young population, due to terrorism, he said.
"Terrorism and other unlawful actions, such as drug trafficking, fuel each other. Organized money laundering is the greatest problem here. The fight against these actions must be multilateral," he said. "Unless we drain crime organizations of their financial resources, we cannot win this fight," he added.
He noted that Turkish inspectors have faced several financial institutions, cargo freight companies and online betting companies in money laundering activities, so control over them will continue in the future.
Thanks to the steps taken to fight against dirty money, Turkey was removed in November from the "grey list" of countries drawn up by the 36-member Financial Action Task Force (FATF), a money-laundering watchdog, Şimşek said. ■