Archive · 29 Sep 2025
Turkey to Empower Watchdog to Freeze Bank, Crypto Accounts
Turkey is planning new rules to stop financial crimes.
They want to give MASAK, the financial crime watchdog, more power.
This includes the ability to freeze or limit access to bank accounts and cryptocurrency accounts if they suspect illegal activity.
The new rules will be added to a bill that will go to parliament soon.
The goal is to prevent criminals from using accounts for things like fraud and illegal betting.
MASAK already works to fight money laundering and these new measures are part of that effort.
Turkey is preparing to give MASAK expanded powers.
MASAK will be able to freeze and restrict access to bank and crypto accounts.
The measures aim to combat money laundering and financial crime.
The changes are expected to be introduced through a bill to parliament.
The bill targets "rented" accounts often used for illegal activities.
- Who
- Turkey's Financial Crime Investigation Board (MASAK)
- What
- Plans to expand its powers to freeze and restrict access to bank and crypto accounts
- When
- Expected to be introduced through a bill in the new legislative year
- Where
- Turkey
- Why
- To combat money laundering, financial crime, and curb "rented" accounts.
- Watchdog
- MASAK (Financial Crime Investigation Board)
- Action
- Expanded powers to freeze and restrict bank and crypto accounts
- Reason
- Clampdown on money laundering and financial crime
- Mechanism
- Bill to parliament
- Goal
- Curb "rented" accounts used for illegal activities