Agent/representative misconduct (KYC corners cut) is a top driver of vicarious liability for Turkish payment and e-money providers. One-line takeaway: In Turkey, agent/representative misconduct (KYC corners cut) can flow straight back to the licensed payment/e-money provider under Law 6493 and MASAK’s AML regime. If your outsourced sales points, onboarding centers, or field reps skip ID […]
1. Conceptual Definition Money laundering is the process of disguising the origins of money obtained through illegal means, making it appear as if it was earned legally. Drug trafficking is one of the most common sources of laundered money worldwide. The money laundering process generally occurs in three main stages: 2. International Regulatory Bodies and […]
In recent years, Turkey has emerged as one of the leading markets for cryptocurrency adoption. The growing public interest in digital assets, blockchain technology, and fintech solutions has triggered a surge in entrepreneurs seeking to establish cryptocurrency-related companies. However, the legal landscape for cryptocurrency businesses in Turkey remains complex and is evolving rapidly. This article […]
1. Introduction: Why Do Foreigners Open Bank Accounts in Türkiye? Türkiye’s banking system is known for its advanced digital infrastructure, stability, and access to international finance. Many foreigners, whether individuals or companies, seek to open Turkish bank accounts to: However, the process is tightly regulated and subject to both Turkish law and each bank’s own […]