Regulatory Bodies in Turkey: MASAK and BRSA (BDDK) Financial Crimes Investigation Board (MASAK) is a financial intelligence unit under the Ministry of Treasury and Finance. The main duties of MASAK are to prevent money laundering crime, to process the collected information, to develop measures, to conduct research on it, and present it to the necessary [...]

Financial Action Task Force (FATF) The FATF (Financial Action Task Force) is an intergovernmental organization that designs and promotes policies and standards to fight financial crime. The recommendations made by the FATF cover money laundering, terrorism financing, and other threats to the global financial system. It was created in 1989 at the request of the [...]

Foreign Account Tax Compliance Act (FATCA) What is the Foreign Account Tax Compliance Act (FATCA)?Preventing tax evasion is a global priority. It was estimated that around $40 to $70 billion is lost each year to international individual tax evasion. It is a financial crime that needs international regulations to combat. Along with efforts at the [...]