Income-Compliant Review of Bank Accounts Within the Scope of MASAK Legislation

Within the framework of MASAK legislation aimed at preventing money laundering and illegal financial activities, banks in Turkey can review customer accounts and request documentation for transactions that do not align with income levels.

In Turkey, banks can review customer accounts and money movements within the scope of their obligations to prevent money laundering and illegal financial activities. During checks carried out within the framework of MASAK legislation, explanations can be requested regarding transactions or unusual money transfers that do not align with the customer's income level. If the information and documents requested by the bank are not provided, restrictions can be placed on the transactions. Under conditions permitted by the legislation, usage rights on the customer's bank accounts and cards can be limited, or even the banking relationship can be terminated.