Law No. 4208 on Prevention of Money Laundering (Abolished)
Legal Framework of AML
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Turkish Criminal Law No. 5237
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TYPOLOGIES
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Law No. 4208 on Prevention of Money Laundering (Abolished)
 

Laundering offence has been firstly identified as “money laundering offence” in article 2/b of Law No. 4208 which was put into force on 19.11.1996 in our legal system. MASAK (Financial Crimes Investigation Board) started to carry out its studies in February 1997 in accordance with the law No.4208 which was also drawing the general framework of combating money laundering.

The “obligations” which are the wholeness of measures concerning prevention of laundering offence and the “obliged parties” subject to these obligations have been determined with the “Regulation Regarding the Implementation of the Law No. 4208 on Prevention of Money Laundering” issued in accordance with the Law No.4208 and published in the Official Gazette No.23037 on 02.07.1997.The implementation procedures and principles have been comprehensively determined in 4 General Communiques published relating to the obligations stated in the Regulation especially on customer identification, suspicious transaction reporting, assignment of compliance officer, training and internal auditing.