05.12.2025 10:52
In the investigation launched against PAYCO Electronic Money and Payment Services Inc. on the allegation of "money laundering of assets derived from crime," a total of 11 suspects were detained in simultaneous operations conducted in 4 provinces centered in Istanbul. The company's assets were seized by a court order.
In a statement made by the Istanbul Chief Public Prosecutor's Office, it was noted that an investigation was initiated by the Office for the Prevention of the Financing of Terrorism and Money Laundering against PAYCO Electronic Money and Payment Services Inc. and the company's officials for "violating Law No. 7258" and "money laundering of assets derived from crime."
In the statement, it was reported that the audit report prepared by the Central Bank of the Republic of Turkey and the analysis report of the Financial Crimes Investigation Board (MASAK) were examined together. It was stated, "The evaluations of both institutions reveal that the proceeds of crime obtained from illegal betting and illegal forex/fraud activities were systematically funneled into the financial system through electronic money and payment service providers, and subsequently laundered through numerous domestic and foreign companies. The findings indicate that, considering the transaction volume, the multi-actor structure, continuity, and financial organization model, these actions are not individual activities but are carried out by an organized structure."
HIGH-RISK FINANCIAL MOVEMENTS DETECTED
The statement emphasized that when the evidence was evaluated together, a hierarchical criminal organization structure was formed within the electronic money institution, consisting of 1 organization leader, 3 managers, and 7 organization members who were assessed to be operating at an operational level under the instructions of these managers, and it was highlighted that numerous high-risk and crime-related financial movements were detected.
11 SUSPECTS DETAINED
In a simultaneous operation conducted by the Istanbul Provincial Gendarmerie Command Cyber Crime Combat Branch in Istanbul, Ankara, Kocaeli, and Yalova, it was reported that 11 suspects were detained, and searches and seizure measures were applied at the addresses.
ASSETS SEIZED
It was stated in the announcement that a seizure measure was applied to the assets of the suspects, which were assessed to have been acquired after the date of the crime, and to PAYCO Electronic Money and Payment Services Inc. by the decision of the Istanbul Criminal Court of Peace, and it was noted that the investigation continues to be conducted meticulously to protect financial security and prevent the entry of criminal proceeds into the economic system.