Compliance Quarterly Türkiye

Global

Managing ethical and regulatory risks in internal investigations 

Read the full Inside Disputes blog, "Internal investigations and in-house lawyers: Managing ethical and regulatory risks."

Key developments in investigations and enforcement affecting companies operating in the UK

Read the full Inside Disputes blog, "Horizon Scanning: Investigations and Enforcement."

Türkiye

The Financial Crimes Investigation Board (MASAK) publishes “Suspicious Transaction Reporting Guide for Those Operating in the Field of Games of Chance and Betting”

On September 13, 2024, the MASAK published the Suspicious Transaction Reporting Guide and Form (Form), regulating the procedures and principles related to suspicious transaction reporting for entities operating in the fields of chance and betting games, within the framework of the National Risk Assessment Report on Combating Money Laundering and Financing of Terrorism. 

Simultaneously with the publication of the form, the MASAK Online 1.0 system, which enables electronic reporting, was redesigned and made available to entities operating in the sector. With MASAK Online 2.0, access security was enhanced, and user-friendliness was improved. To facilitate reporting, an XML guide was prepared and shared with sector representatives. Accordingly, entities operating in the fields of chance and betting games have been subject to the procedures and principles outlined in this guide for suspicious transaction reporting as of September 13, 2024.

Presidential Decree on the Enforcement of the Memorandum of Understanding on Cooperation in the Exchange of Financial Intelligence on Money Laundering, Related Prior Crimes and Financing of Terrorism between MASAK and the Financial Notification Center of the Federal Republic of Somalia and Kuwait

The Memorandum of Understanding on Cooperation in the Exchange of Financial Intelligence regarding Money Laundering, Associated Predicate Offenses, and Financing of Terrorism between the Financial Crimes Investigation Board (MASAK) of the Republic of Türkiye’s Ministry of Treasury and Finance and Kuwait, Somalia, and Palestine has been decided to be enacted pursuant to Article 231 of Presidential Decree No. 1 on the Presidential Organization. 

This memorandum will be implemented by the national intelligence units of the respective countries in accordance with their national legislation. Based on the principle of reciprocity, the parties will share, either upon request or voluntarily, the broadest scope of information available or obtainable. Its aim is to enhance and develop cooperation between national intelligence units. This memorandum does not constitute an agreement binding the states under international law and cannot be interpreted or applied in a manner that creates legal rights or obligations.