MASAK Updated Suspicious Transaction Notification Guide For Crypto-Asset Service Providers

On 23 June 2024, the Financial Crimes Investigation Board ("MASAK") announced the publication of an updated version of the Suspicious Transaction Reporting Guide ("Guide") for the Crypto Asset Service Providers ("CASPs"), who are among the obliged parties under the Law No. 5549 on Prevention of Laundering Proceeds of Crime ("Law No. 5549"). The Guide incorporates feedback from industry representatives and associations, as well as the National Risk Assessment Report on Combating Money Laundering and Terrorism Financing.

The update introduces several key changes and innovations, including:

1. The Suspicious Transaction Reporting Form has been enhanced to encompass all current financial technologies and has been developed to align with the working system of CASPs and the transaction system of crypto assets.