The circular on the Strategy Document for Increasing Effectiveness in Combating Money Laundering and Terrorist Financing and Confiscation Practices in Turkey (2026-2030) was published in the Official Gazette with the signature of President Recep Tayyip Erdoğan.
The five-year strategy aims to implement a holistic, risk-based, and more effective approach at the national level in the fight against money laundering and terrorist financing.
Main Goal: Preventing Crime Proceeds
The circular emphasized that one of the most important objectives of combating money laundering and terrorist financing is to deprive criminals of their illegal gains.
In this context, attention was drawn to the importance of coordination between law enforcement and intelligence units both on a case-by-case basis and in identifying crime trends, and it was stated that completing judicial processes as soon as possible is critical.
Implementation Under MASAK Coordination
In the implementation of the Strategy Document, the Financial Crimes Investigation Board (MASAK) will be responsible for coordination.
Under the document, national risk assessment studies will be carried out under the coordination of MASAK with the participation of all relevant public institutions and organizations. The full text of the Strategy Document will also be published on MASAK's official website.
Emphasis on Compliance with FATF Standards
The circular highlighted the technical compliance and effectiveness criteria set by the Financial Action Task Force (FATF), of which Turkey has been a member since 1991. The new strategy, prepared in line with international standards, aims to further strengthen Turkey's institutional capacity in combating money laundering and terrorist financing.
Suspicious Transactions and Audits to Be Strengthened
The circular stated that customer identification, filing suspicious transaction reports, record-keeping, implementation of compliance programs, and effective operation of audit mechanisms by obliged entities are among the key elements in the fight.
It was emphasized that regulatory and supervisory activities also play a critical role in the fight against crime proceeds.
Inter-Institutional Coordination to Be Increased
The new document, prepared after the completion of the previous strategy document covering 2021-2025, has key goals of increasing the effectiveness of judicial and administrative processes, ensuring that national risk assessment results guide policies and practices, and strengthening inter-institutional coordination.
In the circular signed by President Erdoğan, all public institutions and organizations were asked to diligently fulfill their duties and responsibilities under the Strategy Document and to provide the necessary support during the implementation process.
