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Laws & Regulations
Law No. 5549 introduced legal rules to prevent money laundering and terrorist financing, defined obligations, and expanded MASAK's remit to cover the fight against terrorist financing as well as money laundering.
Payment Systems
MASAK has published a report on the money laundering and terrorist financing risks of obliged parties that are not financial institutions under Law No. 5549.
Payment Systems
Know Your Customer, in short, means identifying your customer. The process by which institutions identify their customers and determine their suitability for a business relationship and the risks they may pose is called KYC.
Laws & Regulations
Law No. 7192 amends certain articles of Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions. Announced on 22 November 2019, it entered into force on 01.01.2020.
Laws & Regulations
Digitalization is changing how banks onboard customers. This post covers digital identity, verification methods, what the Turkish ID card offers, and Article 43 of the Regulation on Information Systems of Banks and Electronic Banking Services on remote identity verification and open banking.