Money laundering, terrorist financing, and the informal economy… These concepts are no longer just news bulletins; they’re at the heart of our banking transactions. The Financial Crimes Investigation Board (MASAK) has published Communiqué No. 30, which introduces new and strict rules on these matters. These new practices will take effect on January 1, 2026.
So what does this mean? Will withdrawing money from the bank, depositing it, or transferring it to another account no longer be as easy as it used to be? Let’s take a look together.
Why was this Communiqué prepared
The purpose is clear:
- To prevent criminal proceeds from entering the financial system
- To prevent the financing of terrorism
- To track unrecorded money
Therefore, some financial transactions will now be monitored more closely and the customer will have to make a statement about these transactions.
Which Transactions Will Be Affected
New rules are coming, particularly for the following types of transactions:
- Deposits and withdrawals of cash and securities
- Bank transfers between different accounts
- Electronic funds transfers: transfers of a specific amount of cash or securities
- Physical deposits, withdrawals, transfers, or payments of cash or precious metals
Transaction Type Selection
Banks and electronic money institutions are now required to offer their customers who transfer money options to select the reason for the transaction. This practice is being implemented by the Central Bank of the Republic of Turkey to ensure more transparent and orderly transactions.
Which Transaction Types Can Be Selected
When sending money, customers will now be able to select not only the recipient information but also a category related to the purpose of the transfer. These categories will necessarily include:
- Real estate and vehicle purchases
- Lending or debt repayment
- Gifts, donations, and aid
- Tax and duty payments
- Compensation and insurance transactions
- Attorney, consultancy, and advisory payments
- Healthcare expenses
- Crypto/digital asset transactions
- Games of chance and betting payments
- Entertainment and social media expenses
What is the Purpose
Thanks to this application, users will be able to declare their transactions more clearly and the records in the financial system will be kept more accurately.
What New Rules Are There
Here are the rules that will apply depending on the transaction amount:
For transactions between 200,000 TL and 2,000,000 TL:
- The customer is presented with options related to the purpose of the transaction.
- If the options presented to the customer do not contain concrete information regarding the transaction content, or if other options are selected by the customer, a transaction description of at least 20 characters in length is provided.
For transactions between 2000,000 TL and 20,000,000 TL inclusive:
- Cash Transaction Declaration Form
- Again, the description section must be at least 20 characters.
For transactions of 20,000,000 TL and above:
- More detailed explanations and related documents will also be added.
Customer Approval Required
All these transactions will not be carried out without the customer’s approval. Approval signatures can be obtained through:
- Internet Banking,
- SMS code,
- or mobile confirmation.
What Happens If There Is No Document
If no documentation can be provided for the transaction, the customer will fill out the form themselves and provide a description of at least 50 characters. So, simply saying “it was money I saved” may no longer be sufficient.
Do These Rules Apply to Every Transaction
No. These rules will not apply in the following cases:
- Transactions between accounts of the same company at the same bank
- Transactions conducted by government institutions
- Interbank money transactions
- Transactions made through ATMs not exceeding a certain amount
When Does It Start
These new rules will come into effect on January 1, 2026. It’s a good idea to familiarize yourself with them until they come into effect.
What Will Happen to Those Who Do Not Comply
If financial institutions fail to comply with these rules, they will face sanctions such as administrative fines. For customers, failure to comply with these rules will result in them being unable to carry out transactions.
To summarize:
- It is now mandatory to provide a reason for large transactions.
- Forms must be filled out, and explanations must be provided.
- These rules are being implemented to prevent the proceeds of crime.
- The rules begin in 2026.
Considering all this, it becomes clear that a little more clarity is needed in banking transactions.
