Turkey has been warned by the Financial Action Task Force (FATF) that it must address its shortcomings in tackling money laundering and terrorism financing or face being added to an international "grey list" of countries with inadequate financial controls.

The international watchdog's warning came after its 2019 Turkey Mutual Evaluation Report report issued on Monday, determined the country's lack of a series of standards, that could severely harm Turkey’s ability to attract foreign financing...