Turkey tightens control over money transfers and cash withdrawals

Business Materials 29 November 2017 15:18 (UTC +04:00)
Turkey tightens control over money transfers and cash withdrawals

Baku, Azerbaijan, Nov. 29

By Rufiz Hafizoglu – Trend:

Turkey is introducing restrictions on money transfers, as well as on withdrawing cash from ATMs, the Turkish Banking Supervision Body (BDDK) told Trend on Nov.29.

The BDDK noted that the bank accounts of individuals who daily withdraw the maximum allowable amount in ATMs will also be under special supervision.

The tightening of control over money transfers is carried out as part of the fight against financial fraud, as well as against illegal gambling.

"In Turkey, about five million people are involved in illegal gambling, for participation in which money is withdrawn through ATMs," the BDDK said.

Earlier in June this year it was reported that Turkey is strengthening the fight against the illegal organization of gambling.

In the country, a special commission has been set up under the Prosecutor General's Office, which will monitor online gambling sites. Founders and users of gambling sites will be prosecuted.

Gambling in Turkey was officially banned in 1984.

In June 2017, Turkish police conducted mass raids in all provinces of Turkey with the aim of suppressing illegal gambling. Over 10,000 police officers participated in the raids.

During the raids, searches were carried out in more than 6,000 restaurants and cafes.