Turkish Authorities Crack Down on Money Laundering with Controlled Delivery and Prosecution
A Major Crackdown on Money Laundering in Turkey
Ankara, Turkey - In a significant move to combat money laundering, the Turkish authorities have announced a new strategy involving controlled delivery and prosecution.
The Plan
The plan aims to extradite Turkish nationals accused of money laundering and repatriate seized funds and vehicles used in their transportation. This is part of a broader effort to tackle the issue, which has been a major concern for Turkey’s economy.
Controlled Delivery Operations
Under the new strategy, the Chief Public Prosecutor of the State Security Court of Ankara will be responsible for implementing controlled delivery operations. These operations will only take place if certain conditions are met, including:
- The risk of loss of evidence or escape of the accused
- Cases where follow-up and surveillance operations are in danger
In cases where the operation is in danger, controlled delivery may be terminated immediately without a decision being made.
Penalties for Non-Cooperation
Those who fail to disclose information that must be kept secret or refuse to furnish requested documents and records can face imprisonment from one year to three years. Additionally, anyone who:
- Refrains from making customer identification
- Fails to keep records for five years
can be sentenced to imprisonment from six months to one year and fined up to 120 million Turkish liras.
Coordination Board Established
The Turkish authorities have established a Coordination Board to oversee the implementation of the law. The board will consist of representatives from various ministries, including:
- Justice
- Finance
- Interior
- Treasury
The board will be responsible for making decisions on foreign requests for confiscation and controlled delivery of dirty money.
International Cooperation
According to officials, the board will make decisions in accordance with agreements between Turkey and other countries.
Increased Transparency and Public Awareness
The authorities have also announced plans to increase transparency and cooperation with international partners to tackle money laundering. The goal is to make it more difficult for criminals to hide their illegal activities and to bring them to justice.
As part of the efforts, a new agency responsible for investigating and prosecuting financial crimes has been established. The agency will work closely with other law enforcement agencies to identify and prosecute those involved in money laundering.
The authorities also plan to increase public awareness about the dangers of money laundering and educate people on how to prevent it.
Conclusion
The Turkish authorities’ new strategy to combat money laundering through controlled delivery and prosecution is a significant step forward in the country’s efforts to prevent this type of criminal activity. The plan aims to extradite Turkish nationals accused of money laundering and repatriate seized funds and vehicles used in their transportation.