Newsletters
Authorities in Türkiye prevented roughly ₺5 billion ($114.38 million) in suspected illegal betting and gambling proceeds from circulating in 2025, after investigations uncovered organized networks using payment firms, crypto platforms, and bank accounts to launder funds.
The Financial Crimes Investigation Board (MASAK), operating under the Treasury and Finance Ministry, said its investigations targeted both individuals generating illicit income and the financial infrastructure that allowed those funds to circulate. Authorities identified transactions linked to organized crime groups and took legal and financial measures to freeze or block assets.
Investigators also uncovered attempts to transfer illegal proceeds using foreign currency and crypto assets, which were stopped as part of broader efforts to prevent money laundering.
As part of the crackdown, Türkiye’s central bank revoked the operating licenses of six payment and electronic money institutions after authorities found they had systematically enabled illegal betting proceeds to enter the financial system.
Judicial authorities also seized assets tied to one crypto asset service provider and issued a separate seizure order against a crypto platform suspected of facilitating illegal betting transactions.
MASAK’s analysis showed that illegal betting networks relied on payment infrastructure designed to resemble legitimate financial services, often using virtual POS systems to collect funds. In response, authorities tightened oversight of these systems and introduced new limits on crypto transfers, particularly stablecoins, to curb illicit flows.
Regulators also addressed risks associated with simplified customer verification,imposing stricter compliance requirementson payment firms, electronic money institutions and cryptocurrency service providers. Investigators shut down numerous bank accounts connected to illegal betting and money laundering.
Treasury and Finance Minister Mehmet Simsek warned citizens not to let others use their financial accounts, stating that illegal betting networks are increasingly relying on third-party bank, payment, electronic money and cryptocurrency accounts.
"Illegal betting organizers have recently begun using bank, payment, electronic money, and crypto asset accounts belonging to third parties," Simsek said, warning that renting out or granting access to accounts could lead to criminal consequences.
He added that allowing accounts to be used under arrangements such as "temporary use," "entrustment," or "commission-based access" may constitute participation in illegal betting and money laundering.
Simsek also said some organizers obtained authorization from individuals to establish limited companies and used those companies’ accounts to collect illegal proceeds.
"It is important that citizens do not allow companies established in their name to be used by people they do not actually know," he said, adding that MASAK will continue to suspend operations, revoke licenses, and seize assets when necessary.
Authorities said enforcement efforts will continue in coordination with financial regulators and law enforcement to block illegal betting funds from entering Türkiye’s financial system.
Set as preferred source
Set as preferred source
1 min read
1 min read
