Türkiye intends to allow Financial Crime Investigation Bureau to freeze banks and crypto accounts

According to Foresight News, people familiar with the matter revealed that Turkey is preparing to give the Financial Crime Investigation Bureau greater power to freeze and limit access to bank accounts and cryptocurrency accounts to combat money laundering and financial crime operations, according to Bloomberg. The proposed measures are in line with the anti-money laundering standards established by the Financial Action Task Force (FATF) and are expected to be implemented through a bill submitted to Parliament. If the new regulations are approved, the Financial Crime Investigation Bureau will have the right to close accounts suspected of illegal use, and can also implement transaction limits, suspend mobile bank accounts, and blacklist cryptocurrency addresses related to crimes. The bill still being drafted mainly targets "rental" accounts, where criminals pay to use other people's accounts to commit illegal gambling and fraud. These changes are expected to be included in the 11th judicial package, with new legislation submitted for consideration annually, and regulations may be revised and not necessarily adopted in current form.
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