Turkish banking sector implements stricter transaction monitoring

Banks in Turkey are intensifying the monitoring of customer cash flows in accordance with Financial Crimes Investigation Board (MASAK) regulations. Financial institutions are scrutinizing accounts where detected cash movements do not align with declared income levels. This includes monitoring sudden large transfers or consecutive ATM deposits made by individuals with low reported earnings.

Customers unable to provide official documentation to prove the source of funds may face frozen accounts. Acceptable documentation includes salary slips, SGK service records, tax returns, property deeds, or vehicle sale contracts.

Separately, experts advise participants in the Private Pension System (BES) to complete payments for the 2026 state contribution limit by November 15. This recommendation stems from potential credit card processing delays of up to 45 days, which could prevent payments from being recorded within the relevant fiscal year.