Turkiye: Implemented amending regulation on measures to prevent laundering proceeds of crime and financing of terrorism (Decision No. 9305)

On 25 December 2024, the amending regulation on measures to prevent laundering proceeds of crime and financing of terrorism entered into force. The regulation applies to financial institutions, crypto asset service providers and e-commerce intermediaries. It introduces new obligations for sender and recipient identification in crypto asset transfers, particularly those over TL 15,000. The regulation includes more stringent reporting requirements, particularly for unregistered wallet transactions and foreign service providers, and standardise identity verification methods, such as Turkish identification numbers. Additionally, provisions for risk-based approaches and remote digital identification have been introduced.