Turkey plans to enhance the powers of its Financial Crimes Investigation Board (Masak) to combat money laundering and financial crimes, according to a Bloomberg report. The proposed measures would allow Masak to freeze bank and cryptocurrency accounts, set transaction limits, suspend mobile banking, and blacklist crypto addresses involved in criminal activities. These actions align with FATF standards and specifically target 'rented accounts' used for illegal gambling and fraud. The proposal is expected to be submitted to parliament as part of the 11th judicial reform package in the new legislative year.
Turkey to Expand Financial Crime Authority's Powers to Combat Crypto Fraud
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