Abstract:

The international standards on anti-money laundering and terrorist financing requires that when there is suspicion or reasonable grounds to suspect that a financial transaction, or the asset which is the subject of the transactions has been acquired through illegal ways or is related with terrorist financing these suspicions should directly and immediately be reported to the competent authority.3 The said competent authority is called the financial intelligence unit.4 The legislation on anti-money laundering and terrorist financing in Turkey requires “suspicious transaction reporting”. According to these regulations, suspicious transaction reports should be sent to Financial Crimes Investigation Board (FCIB). In the article, the process of reporting suspicious transactions to MASAK is evaluated within the scope of provisions and regulations of our current legislation.

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