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Duties, Powers and Functions
Duties and Powers
MASAK was established with the enactment of Law no. 4208 on Prevention of Money Laundering on 19.11.1996 and started to carry out its functions on 17.02.1997. The functions and powers of MASAK were redetermined with the Law No.5549 on Prevention of Laundering Proceeds of Crime which was put into force on 18th October 2006 .
Article 19 of the Law No.5549 is as follows in which duties and powers of MASAK listed:
Article 19- (1) The Presidency of Financial Crimes Investigation Board is directly attached to the Minister of Finance. The duties and powers of the Presidency are as follows:
a) To develop policies and implementation strategies, to coordinate institutions and organizations, to conduct collective activities, to exchange views and information in order to prevent laundering proceeds of crime.
b) To prepare law, by-law and regulation drafts in accordance with the policies determined, to make regulations for the implementation of this Law and the decisions of Council of Ministers regarding the Law.
c) To carry out researches on the developments and trends on laundering proceeds of crime, and on the methods of detecting and preventing them.
ç) To make sectoral studies, to improve measures and to monitor the implementation on the purpose of prevention of laundering proceeds of crime.
d) To carry out activities to raise the public awareness and support.
e) To collect data, to receive suspicious transaction reports, to analyze and evaluate them in the scope of prevention of laundering proceeds of crime and terrorist financing.
f) To request for examination from law enforcement and other relevant units in their fields, when required during the evaluation period.
g) To carry out or to have carried out examinations on the subject matters of this Law.
ğ) To denounce files to the Chief Public Prosecutor’s Office for the necessary legal actions according to the Criminal Procedure Law in the event of detecting serious findings at the conclusion of the examination that a money laundering offence is committed.
h) To examine the cases conveyed from Public Prosecutors and to fulfill the requests relating to the determination of money laundering offence.
ı) To convey the cases to the competent Public Prosecutor’s Office in cases where serious suspicion exists that a money laundering or terrorist financing offence is committed.
i) To ensure inspection of obligations within the scope of this Law and relevant legislation.
j) To request all kinds of information and documents from public institutions and organizations, natural and legal persons, and unincorporated organizations.
k) To request temporary personnel assignment from other public institutions and organizations within the Presidency, when their knowledge and expertise is necessary.
l) To carry out international affairs, to exchange views and information for the subjects in the sphere of its duties.
m) To exchange information and documents with counterparts in foreign countries, to sign memorandum of understanding that is not in the nature of an international agreement for this purpose.
2) The unit requested according to the sub-paragraph (f) of paragraph (1) by the Presidency shall respond to the request promptly.
(3) The Presidency fulfills its duties of examination on money laundering offence through examiners. The examiners are designated upon the request of the President by the proposal of the head of the related unit and by the approval of the Minister to whom they are attached or related.
(4) The examiners assigned upon the request of the Presidency are authorized to request information and document, to make examination, to inspect the obligations, to scrutinize all kinds of documents on the matters of the assignment.
MASAK performs the following functions within the scope of duties and powers determined:
- Developing policies and improving legislation
- Data collecting, analyzing, evaluation
- Supervision
- Coordination
- Investigation
