Turkish banks may block accounts for unverified fund sources

In accordance with Financial Crimes Investigation Board (MASAK) regulations, banks in Turkey are increasing oversight of customer account activities to combat money laundering and illegal financial operations. Banks are authorized to monitor transactions that appear inconsistent with a customer's declared financial profile.

Investigations are not limited to specific transaction amounts; instead, they focus on discrepancies between a customer's known income and their cash flow. Examples of suspicious activity include sudden high-value transfers to accounts belonging to individuals with low declared incomes, frequent consecutive ATM deposits, or sudden shifts in established spending habits.

To verify the legal source of funds, banks may request official documentation such as salary slips, tax returns, property deeds, vehicle sale contracts, or inheritance certificates. Failure to provide these documents within the legally required timeframe can result in the suspension of transactions, the temporary blocking of credit cards and bank accounts, or the unilateral termination of the banking relationship and notification to public authorities.