With the amendment to the Regulation on Measures Regarding the Prevention of Laundering Proceeds of Crime and Financing of Terrorism (“Regulation”), published in the Official Gazette dated 7 October 2026, certain monetary thresholds set forth under the Regulation have been updated to an extent that will facilitate the industry’s business operations.
Accordingly, effective as of 7 October 2026:
- The general threshold for customer identification in transactions subject to threshold-based identification requirements under Article 5(1)(b) of the Regulation has been increased from TRY 185,000 to TRY 375,000;
- The threshold applicable to crypto asset service providers, set forth in the parenthetical provision under Article 5(1)(b) of the Regulation, has been increased from TRY 15,000 to TRY 30,000;
- The identification threshold for electronic transfers and crypto asset transfers carried out by crypto asset service providers, as set forth under Article 5(1)(c) of the Regulation, has been increased from TRY 15,000 to TRY 30,000;
- The threshold of TRY 15,000 under Article 24 of the Regulation, which sets out the information required to be included in domestic and cross-border electronic transfer messages regarding the originator and beneficiary, as well as whether such information is required to be verified, has been increased to TRY 30,000;
- Similarly, the threshold of TRY 15,000 under Article 24/A, which regulates the information required to be included in messages relating to crypto asset transfers intermediated by crypto asset service providers regarding the originator and beneficiary, as well as whether such information is required to be verified, has been increased to TRY 30,000
In addition, the Regulation introduces an important change regarding the obligation of financial institutions to obtain physical signatures from their customers. Accordingly, provided that the transaction is commensurate with the level of risk involved, verifications carried out using a One-Time Password (SMS OTP) sent to a previously verified mobile phone number will be deemed legally valid.
