Regulation Amending the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism (Decision Number: 6702) (“Amending Regulation”) has been published in the Official Gazette dated 14.01.2023 and numbered 32073.
Pursuant to the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism (“Regulation”), which was put into effect by the Council of Ministers Decree dated 10/12/2007 and numbered 2007/1302, certain institutions such as banks, institutions other than banks authorized to issue debit cards or credit cards, financing and factoring companies, financial leasing companies and insurance companies are listed among the obliged parties.
With the Amending Regulation, the limit regarding the obligation of the obliged parties to take the necessary measures to determine the identity of its customers and those acting on behalf of or on behalf of their customers by obtaining identity information and confirming the accuracy of this information, and to reveal the true beneficiary of the transaction, which was “eighty-five thousand Turkish liras or more”, for the transaction amount or the total amount of more than one linked transaction has been amended as “one hundred eighty-five thousand Turkish liras or more”.
In terms of the same obligation, the limit set as “seven thousand five hundred Turkish liras or more” for the transaction amount or the total amount of more than one linked transaction in electronic transfers has been amended to “fifteen thousand Turkish liras or more” by the Amending Regulation.
The limit set as “seven thousand five hundred Turkish liras or more” for the verification of certain information regarding the sender in domestic and international electronic transfer messages regulated under Article 24 of the Regulation has been amended as “fifteen thousand Turkish liras or more” by the Amending Regulation.
Amending Regulation shall enter into force on 01.02.2023.
You may reach the full Turkish text of the Amending Regulation via the link below.