Turkey takes action to freeze FETÖ assets in 34 countries

Turkey aims to freeze the assets and bank accounts of the Gülenist Terror Group (FETÖ) in 34 countries in order to diminish the financial strength of the terrorist cult, which realized a failed coup on July 15 with the aim of toppling the democratically elected government in Turkey and bringing about martial law.

In the first phase of the move to eradicate the global financial network of the FETÖ, Turkey requested the freezing of the assets and fund inflows into the bank accounts of the terrorist cult from 34 countries of the Financial Action Task Force (FATF), having explained to them the structure and objectives of the terrorist group.

The reasoning of the request was based on fight against money laundering and terror financing. While the members of the FATF included U.S., Germany, China, European Commission and Gulf Cooperation Council (GCC), Turkey demanded functioning of the reciprocity principle regarding the freezing of the assets of the FETÖ.