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ARTICLE · 25 JUNE 2024

Banking Sector Suspicious Transaction Reporting Guide And MASAK Online System Updated

Moroglu Arseven
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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...

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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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 or attempted to be carried out by or through obligated parties have been obtained by illegal means or used for illegal purposes, such transactions must be reported to the Presidency of the Financial Crimes Investigation Board ("MASAK") by the obligated parties.

In accordance with the obligation mentioned above, Article 28 of the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism ("Regulation") stipulates that MASAK may issue guidelines on how to make such notifications.

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