MASAK Updates Financial Transaction Procedures: Key Insights for Entrepreneurs in Türkiye
The Financial Crimes Investigation Board of Türkiye (MASAK) has introduced a new set of regulatory reforms for the 2025–2026 period. These changes have significant implications for international entrepreneurs operating in the financial, insurance, and e-commerce sectors of Türkiye. Implemented progressively from 2025 and fully effective from 2026, the updates aim to enhance transparency, align with FATF (Financial Action Task Force) standards, and combat the shadow economy.
1. Gradual Declaration System and Transaction Monitoring Framework
On 1 August 2025, MASAK released a draft communiqué establishing a risk-based gradual declaration system. The model introduces differentiated customer information obligations based on transaction amounts. This system became operational on 1 January 2026, reflecting Türkiye’s commitment to international financial compliance and anti-money laundering standards.
| Transaction Amount (TRY) | Declaration Requirement |
|---|---|
| 0 – 200,000 | No declaration required |
| 200,001 – 2,000,000 | Basic transaction description (minimum 20 characters) |
| 2,000,001 – 20,000,000 | Mandatory submission of Cash Transaction Declaration Form |
| 20,000,000+ | Form submission plus supporting documents (invoice, contract, etc.) |
2. New Procedures for E-Commerce and Digital Payment Platforms
Following the MASAK General Communiqué No. 31 published on 7 January 2026, new compliance standards were introduced for e-commerce intermediary service providers (ETHS). As of 1 February 2026, medium, large, and very large e-commerce platforms are required to perform a mandatory verification money transfer before initiating any service with their intermediary partners.
This approach transforms customer account verification into a monetary process. Platforms are prohibited from providing services until this transfer is completed.
3. Regulation for Online Gaming and Betting Operators
As part of the same regulatory framework, MASAK abolished the simplified identity verification mechanism based on credit cards for virtual betting agents. Replacing this is a verification transfer system whereby the customer must execute a small transaction from a bank account registered in their own name to an authorized verification account. This system also came into force on 1 February 2026.
4. Procedures for Public Payments
To facilitate mandatory public payments, MASAK removed the requirement to collect signature samples for accounts opened under simplified identification rules. Instead, verification through the Identity Sharing System (KPS) and official databases is now sufficient. This measure aims to create a faster yet controlled mechanism particularly useful in social aid and disaster-related payments.
5. Treasury Verification for Insurance and Pension Companies
Insurance and pension companies making claim or compensation payments to third parties other than policyholders can now apply simplified identity verification using KPS checks through official data sources. Provided that the payment is made to a bank account matching the verified identity data, a signature sample is no longer required. This measure enhances digitalization and operational efficiency in claims management.
6. Stricter Oversight for Foreign Politically Exposed Persons (PEPs)
The January 2026 update also removed foreign politically exposed persons from simplified due diligence coverage. Financial institutions must now apply standard or enhanced due diligence procedures to these clients and related accounts, strengthening Türkiye’s anti-corruption and transparency framework.
7. Operational Implications for International Entrepreneurs
For international entrepreneurs and investors active in Türkiye’s financial, e-commerce, and insurance sectors, the MASAK reforms bring tangible operational impacts:
- New technical infrastructure investments required for customer onboarding systems
- Higher integration costs due to the mandatory money transfer verification mechanism
- Need for digital transformation of document management processes
- Standardized workflow integration of database checks such as KPS and population registries
- Increased compliance management budgets to support alignment with FATF-guided regulation monitoring
8. Conclusion: Strategic Adaptation for a Regulated Future
Throughout 2025, MASAK gathered extensive stakeholder feedback before gradually introducing these measures in 2026. The constant evolution of financial compliance frameworks highlights the importance for international entrepreneurs to maintain updated regulatory awareness when operating in Türkiye. Adapting to these new standards not only ensures legal compliance but also strengthens reputational trust within the Turkish market.
For detailed reference, entrepreneurs may consult the official MASAK regulations portal.
