Update on Suspicious Transactions for Cryptocurrencies from MASAK!

Financial Crimes Investigation Board (MASAK) Presidency announced that it has updated the "MASAK Online" system with the cryptocurrency service providers suspicious transaction reporting guide and form. 

According to the news by TRT Haber, within the scope of MASAK's Law on Prevention of Laundering Proceeds of Crime, liable parties are required to send suspicious transaction reports to MASAK. This update was carried out within the scope of the "National Risk Assessment Report on Combating Money Laundering and Financing of Terrorism".

In addition, according to the statement, MASAK is authorized to publish general and sectoral suspicious transaction reporting guides. With the update, a suspicious transaction reporting form has been developed in accordance with the working systematics of crypto asset service providers and the transaction systematics of crypto assets.

The form has been expanded to cover all existing financial technologies with its simplified structure. New suspicious transaction categories were also added, such as terrorist organization financing and financing of the proliferation of weapons of mass destruction.

MASAK also updated the "Masak Online 1.0" system and made it available under the name "Masak Online 2.0".