The Financial Crimes Investigation Board (MASAK) has published a new guide for cryptocurrency exchanges regulating the procedures and principles for reporting suspicious transactions. The manual provides detailed information about the processes of sending suspicious transaction messages on paper and electronic media, as well as how to prepare suspicious transaction message forms.
MASAK has published a guide to cryptocurrency
The manual published by MASAK includes information about suspicious transactions or transactions that are reported as suspicious transactions and that contain monetary value. The 31-page report, published on the official website of the Ministry of Finance, describes in detail how to report suspicious transactions. In addition, the general outlines of cryptocurrency exchanges and types of clients were drawn.
The questions in the 31-page manual say that crypto exchanges must report suspicious transactions from April 18 within the framework of the principles and procedures specified in the manual:
In accordance with paragraph 1 of Article 4 of the Law “Reports on Suspicious Transactions”, any information, suspicion or information that property that is the subject of transactions made or undertaken before or through them is obtained or used for illegal purposes by illegal means. If there is a suspicious issue, the responsible parties should report these transactions to the Presidium.
The following items are included for the presentation to be made in an electronic environment:
Obligated parties who wish to report suspicious transactions electronically and which the Presidium deems appropriate may report suspicious transactions electronically. Obligated parties who are given the opportunity to issue the form of the STR in electronic form must submit reports on suspicious transactions in electronic form via EMIS.ONLINE (https://online.masak.gov.tr ) from the date of authorization.
MASAK continues his work
The ruling, published in the Official Newspaper in May last year, made cryptocurrency exchanges subject to MASAK. After that, MASAK tightened its control on the market. As we have already mentioned in Somagnews news, Binance Turkey (BN Teknoloji company), the Turkish division of Binance, which is the largest exchange in terms of transactions, was fined 8 million liras by the Financial Crimes Investigation Board (MASAK).
