Information Note on The Compliance Program for Preventing of Laundering of Crime Revenues and Financing of Terrorism
With the Regulation Amending the Regulation on the Compliance Program for the Obligations Regarding the Preventing of Laundering of Crime Revenues and Financing of Terrorism published in the Official Gazette dated February 26, 2021 and numbered 31407; the scope of obliged parties who will form a compliance program have been expanded.
In addition to the banks, capital market intermediary institutions, insurance and pension companies and Posta ve Telgraf Teşkilatı Anonim Şirketi (eng. General Directorate of Turkish Post Office), Group A authorized institutions, finance, factoring and financial leasing companies, portfolio management companies, precious metals intermediary institutions, electronic fund institutions and payment institutions have been also deemed obliged to establish a compliance program.
Within the scope of the Law on Prevention of Laundering of Crime Revenues numbered 5549, obliged parties should take measures to establish training, internal audit, control and risk management systems by establishing a compliance program in order to prevent laundering of crime revenues financing of terrorism.