What Does Turkiye's AML Legislation Amendment Bring For Payment And Electronic Money Institutions?

The long-awaited legislative amendment of the Financial Crimes Investigation Board of the Republic of Turkey Ministry of Treasury and Finance ('MASAK') took place on 25 December 2024.

Within the scope of the relevant amendment ('Amendment'), MASAK has made various amendments to the following regulations within the scope of MASAK legislation, taking into account the recent FATF guidelines and local reviews.

• Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism ('Measures Regulation')
• Regulation on the Programme for Compliance with the Obligations Regarding the Prevention of Laundering Proceeds of Crime and Financing of Terrorism ('Compliance Regulation')