20 Jul 2024
Pursuant to Article 4 titled “Suspicious Transaction Notification” of the Law No. 5549 on Prevention of Laundering Proceeds of Crime (“Law”), if there is any information, suspicion, or circumstance requiring suspicion that the assets subject to transactions carried out […]
6 Jun 2023
The Regulation Amending the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism (“MASAK Regulation“) (“Amendment Regulation“), which entered into force upon its publication in the Official Gazette dated April 05, 2023, and numbered 32154, […]
12 Jan 2023
Turkey had been added to “grey list” by Financial Action Task Force (“FATF”) on 21 October 2021 and notified that regulations should be made regarding politically exposed persons. Accordingly, the Financial Crimes Investigation Board (“MASAK”) published General Communiqué (“Communiqué”) […]
11 Jan 2023
GENERAL CONTEXT, KEY PRINCIPLES AND HOT TOPICS 1 Identify the highest-profile corporate investigation under way in your country, describing and commenting on its most noteworthy aspects. Criminal investigations including those concerning corporate crimes are conducted by public prosecutors with […]
6 Jun 2022
The Regulation on Remote Identification Methods to be Used by Banks and the Establishment of Contract Relations in the Electronic Environment (“Regulation”) was published in Official Gazette dated 1 April 2022 and numbered 31441 and entered into force on […]
6 Jun 2022
The Central Bank of the Republic of Turkey (“TCMB”) has published the Guide for Applications on Notifying the Central Bank of Turkey Regarding Persons and Institutions Providing Unauthorized Payment Services (“Guide”). Most important articles of the Guide are as […]
6 Jun 2022
As we stated in our article published in MA | Gazette dated 11 May 2021 and numbered 103, in virtue of the Regulation on Amendment of Regulation on the Measures for Prevention of Laundering Proceeds of Crime and Terrorist […]
1 Jun 2022
1. What is the legal framework (legislation/regulations) governing bribery and corruption in your jurisdiction? In Turkey, the main legislation governing bribery and corruption is the Turkish Criminal Code No 5237 (“TCC”). Bribery is criminalized under Article 252 of the […]
27 Apr 2022
On 18 April 2021, the Cryptocurrency exchange platform Thodex went offline, shaking Turkey with its first large-scale cryptocurrency fraudulent case and causing the loss of around $2-billion worth of crypto-coin belonging to cryptocurrency investors. Cryptocurrencies are still unregulated in […]
9 Dec 2021
Brief overview of the law and enforcement regime Bribery, as regulated under Article 252 of the Turkish Criminal Code (“TCC”), is a crime that can be committed by certain persons. Specifically, bribery can only be committed mutually, involving at […]
