REGULATION ON THE AMENDMENTS OF THE REGULATION ON MEASURES REGARDING THE PREVENTION OF LAUNDERING OF CRIME AND FINANCING OF TERROR WAS PUBLISHED

The Regulation Amending the Regulation on Measures to Regarding the Prevention of Laundering of Crime and the Financing of Terrorism was published in the Official Gazette on May 1, 2021 and entered into force.

With this Regulation, "crypto asset service providers" and "savings financing companies" have been added to the obliged parties section of the article 4 of the Regulation on the Prevention of Laundering Proceeds of Crime and the Financing of Terrorism. Accordingly, crypto money platforms and savings financing companies have become obliged to make detailed identification during each transaction above a certain amount. These companies are within the scope of the Financial Crimes Investigation Board (MASAK) audit in terms of fulfilling their obligations.