SANCTIONS
OBLIGED PARTIES
PREVENTIVE MEASURES
Masak Online Hizmetler Masak Akademi Hizmeteri Masak Faaliyet Raporları Masak Rehber Arşivi BT Modernizasyon Programı
 
SANCTIONS
 

Judicial Penalty

According to Article 14 of Law No.5549; the obliged parties shall be sentenced to imprisonment from one year to three years and to judicial fine up to five thousand days in case that they violate the obligation stated in paragraph (2) of Article 4 of the same Law regarding not giving information to anybody that they report the suspicious transactions, other than the examiners assigned to conduct supervision of obligations and the courts during legal proceedings; the obligation of providing requested information and documents stated in Article 7; and the obligation of retaining and submitting related documents stated in Article 8.

Administrative Fine

According to Article 13 of Law No. 5549, the obliged parties shall be punished with an administrative fine of five thousand New Turkish Liras by the Presidency in case that they violate the obligation stated in Article 3 regarding customer identification, Article 6 regarding periodically reporting and Paragraph (1) of Article 4 regarding suspicious transaction reporting. If the obliged party is a bank, finance company, factoring company, money lender, financial leasing company, insurance and reinsurance company, pension company, capital market institution or bureau de change, administrative fine shall be applied two-fold.

The obliged parties who fail to comply with the obligations stated in Article 5 of Law No. 5549 regarding training, internal control, control and risk management systems and other measures shall be given at least 30 days in order to remove deficiencies and to take necessary measures. If the obliged parties don’t remove deficiencies and take necessary measures then the above mentioned fines shall apply to them.

Persons, institutions and organizations who fail to comply with the obligations of electronic notification specified in Article 9/A of Law No. 5549 shall be punished with an administrative fine of ten thousand Turkish Liras by MASAK for each failure to comply. The total amount of administrative fine applied in this regard in one year cannot exceed two hundred and fifty thousand Turkish Liras.

For each failure, the total amount of administrative fines applied within the year of the violation pursuant to the above mentioned provisions cannot exceed ten million Turkish Liras for obliged parties that will be punished with a twofold fine, and one million Turkish Liras for other obliged parties. If the obliged parties subject to upper limit on fines make same kind of failure to comply with obligation in the following year, the limit shall be applied twofold.

With the amendments in Law No. 5549 dated 18.06.2014, the employees of obliged parties shall no longer be punished with administrative fine in case of violation of obligations.
Administrative fine cannot be imposed after five years from the date of violation of obligation.

Amount of Administrative Fines

According to Article 17 (7) of Misdemeanor Law No.5326; “The administrative fines are implemented as being valid from the beginning of each calendar year by increasing in the ratio of revaluation for that year determined and announced in accordance with provisions of Article reiterated 298 of tax Procedural Law No.213 dated 4.1.1961. By this means, in calculation of administrative fine, the fraction of one Turkish Liras is not taken into consideration”.
Accordingly, the amount of administrative fines to be imposed in violation of obligations by years is shown in the table below.

 

The obliged party whom an administrative fine to be imposed

For violations in 2010 (TL)

For violations in 2011 (TL)

For violations in 2012 (TL)

For violations in 2013 (TL)

For violations in 2014 (TL)

For violations in 2015 (TL)

For violations in 2016 (TL)

For violations in 2017 (TL)

Obliged party
(Law No.5549 Article 13/1)

6.613,_

7.122,_

7.852,_

8.464,_

8.796._

9.685

     10.225

     10.616

Obliged party (two fold fine) (Law No.5549 Article 13/1)

13.226,_

14.244,_

15.704,_

16.928,_

17.592._

19.370

    20.450

21.232