Turkish banks are taking a beating in American courts. Milestone rulings make it crystal clear that Turkey has a terrorism and illicit finance problem, and it could soon pay a steep price. They should also serve as a wakeup call for international financial institutions: banks may no longer be able to hide behind sovereign immunity.
Dr. Aykan Erdemir, senior director of FDD’s Turkey program, is a former member of the Turkish Parliament (2011 to 2015) and served in the EU-Turkey Joint Parliamentary Committee.
