Turkey regulates AML/CTF through MASAK, its financial crimes investigation board. See the obligations and how MemberCheck supports them.
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Turkey regulates AML/CTF through MASAK, the Financial Crimes Investigation Board, which sits under the Ministry of Treasury and Finance and is both the financial intelligence unit and the AML/CTF supervisor. MASAK formulates policy, receives suspicious transaction reports from obliged parties, examines those parties for compliance, and imposes administrative fines. The Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (SPK) supervise their own sectors and supply inspectors for MASAK examinations.
Designated parties, especially financial companies, must perform customer due diligence, report suspicious transactions to MASAK regardless of value, and keep and provide records on request. The compliance programme must cover onboarding, due diligence, reporting procedures, documentation, and independent audit, with a compliance officer responsible for reporting.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
The Financial Crimes Investigation Board, under the Ministry of Treasury and Finance, is both Turkey's financial intelligence unit and its AML/CTF supervisor. It formulates policy, receives and analyses reports, examines obliged parties, and imposes administrative fines, working with inspectors drawn from bodies such as the BDDK and the SPK.
Turkey's principal AML statute on the prevention of laundering proceeds of crime. It sets customer due diligence, record-keeping, and reporting duties for obliged parties.
Obliged parties, especially financial companies, must maintain onboarding and customer due diligence principles, suspicious transaction reporting procedures, documentation, and independent audit.
As a FATF member, Turkey aligns its regime with the international standards that shape expectations for financial institutions and designated businesses.
MASAK, the Financial Crimes Investigation Board, holds both roles under Law No. 5549. It is Turkey's financial intelligence unit, receiving and analysing suspicious transaction reports, and it is also the AML/CTF supervisor, issuing regulations, examining obliged parties, and imposing administrative fines. Examinations are carried out by designated inspectors, including experts from the Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (SPK), which supervise their own sectors more broadly.
Law No. 5549 on the Prevention of Laundering Proceeds of Crime is Turkey's principal AML statute, setting customer due diligence, record-keeping, and reporting obligations.
Yes. Turkey is a member of the Financial Action Task Force and aligns its AML/CTF regime with the FATF 40 Recommendations.
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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