OBLIGED PARTIES
PREVENTIVE MEASURES
SANCTIONS
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OBLIGED PARTIES
 

In order to combat laundering proceeds of crime in a more effective way and prevent the use of financial system by criminals, certain obligations for financial institutions and some other professional organizations have been introduced in both international area and domestic law.

Within this scope, those who operate in the field of banking, insurance, individual pension, capital markets, money lending and other financial services, and postal service and transportation, lotteries and bets; those who deal with exchange, real estate, precious stones and metals, jewellery, all kinds of transportation vehicles, construction machines, historical artefacts, art works, antiques or intermediaries in these operations; notaries, sports clubs are set, by the Article 2/d of the Prevention of Laundering Proceeds of Crime Law No. 5549, as obliged parties in the implementation of Law No. 5549, and the Council of Ministers is authorized for enabling imposition of obligations to business owners and professionals not listed above.

The followings and their branches, agencies, representatives, commercial proxies and similar affiliated units are obliged parties according to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism:

a)Banks
b) Institutions other than banks who have the authority to issue bank cards or credit cards
c) Authorized exchange offices given in legislation on foreign exchange
ç) Money lenders, financing and factoring companies within the scope of legislation on money lending
d) Capital markets brokerage houses, futures brokerages and portfolio management companies
e) Investment fund managers
f) Investment partnerships
g) Insurance, reinsurance and pension companies, and insurance and reinsurance brokers
ğ) Financial leasing companies
h) Institutions furnishing settlement and custody services within the framework of capital markets legislation
ı) Presidency of Istanbul Gold Exchange pertaining only to its custody service
i) General Directorate of Post and cargo companies
j) Assets management companies
k) Dealers of precious metals, stones and jewelleries
l) Directorate General of Turkish Mint pertaining only to its activities of minting gold coins
m) Precious metals exchange intermediaries
n) Those who buy and sell immovables for trading purposes and intermediaries of these transactions
o) Dealers of any kind of sea, air and land transportation vehicles including construction machines
ö) Dealers and auctioneers of historical artifacts, antiques and works of art
p) Those who operate in the field of lotteries and betting including Turkish National Lottery Administration, Turkish Jockey Club and Football Pools Organization Directorate
r) Sports clubs
s) Public notaries
ş) Freelance lawyers pertaining only to functions within the scope of paragraph 2 in Article 35 of Law No. 1136 on Lawyers such as trading of immovables, establishing, managing and transferring companies, foundations and associations provided that these functions are not contrary, in terms of right of defending, to provisions of other laws
t) Certified general accountants, certified public accountants and sworn-in certified public accountants operating without being attached to an employer
u) Independent audit institutions authorized to conduct audit in financial markets

Branches, agencies, representatives, commercial representatives and similar affiliated units located in Turkey and pertaining to obliged parties whose head offices are abroad be deemed obliged obliged party.

Abroad branches, agencies, representatives, commercial representatives and similar affiliated units of obliged parties whose head offices are in Turkey implement the provisions of this Regulation to the extent that the legislation and competent authorities of the country where they are located permit.