26.11.2025 12:35
According to the new regulation prepared by MASAK, as of January 1, 2026, a gradual declaration will be mandatory for EFT, wire transfers, and cash transactions of 200,000 TL and above. For transfers exceeding 20 million TL, transactions will not be processed unless detailed explanations and documents are provided; the aim is to increase transparency in high-value money movements.
The Financial Crimes Investigation Board (MASAK) under the Ministry of Treasury and Finance has prepared a new draft regulation to increase transparency in the financial system and prevent unrecorded money movements. According to the draft, a declaration obligation will be introduced for EFT, wire transfers, and cash transactions of 200,000 TL and above. The regulation is planned to come into effect on January 1, 2026.
GRADUAL DECLARATION FOR HIGH-VALUE TRANSACTIONS
With the new system, a gradual declaration process will be implemented for money transfers. Accordingly:
TRANSACTIONS BETWEEN 200,000 TL – 2 MILLION TL
For money transfers within this amount range, the nature of the transaction will be briefly declared. Customers will be required to write a summary statement in the explanation field of the bank's system regarding the purpose of the money transfer.
TRANSACTIONS BETWEEN 2 MILLION TL – 20 MILLION TL
For transactions at this level, a "Cash Transaction Declaration Form" will be filled out. The form will include more detailed information about the source, purpose, and parties involved in the transaction.
TRANSACTIONS OF 20 MILLION TL AND ABOVE
The strictest supervision will be applied in this group.
- The declaration form will be filled out with detailed explanations.
- Supporting documents showing the source and purpose of the transaction (contract, invoice, etc.) will be presented.
- Banks will offer special declaration options to customers based on the type of transaction.
- Instead of general, ambiguous expressions like "individual payment," a clear and understandable explanation of at least 20 characters will be mandatory.
In this context, high-value transfers will be monitored more closely through both declaration and documentation.
JUSTIFICATION OF THE REGULATION: COMPLIANCE WITH GLOBAL STANDARDS
The draft regulation prepared by MASAK emphasizes that the main purpose of the work is to comply with international financial transparency standards. The regulation;
- Is shaped considering the FATF criteria for combating money laundering and the financing of terrorism,
- Risk-based analyses and national assessment reports,
- And similar practices in other countries.
EXCLUDED TRANSACTIONS
Not every transaction will be subject to this declaration obligation. According to the draft text, some items are exempt:
- Transactions conducted by public institutions,
- Money movements between banks,
- Low-value transactions made through ATMs.
No additional declaration requirement will be sought for these types of transactions.
PENALTIES FOR NON-COMPLIANCE
After the declaration comes into effect, financial institutions that do not comply with the obligations will face administrative penalties under Law No. 5549. Banks will need to align their systems and processes with these rules.
STARTING ON JANUARY 1, 2026
The new system will be implemented on January 1, 2026. From this date:
- Declaration will become mandatory for EFT, wire transfers, and cash transactions of 200,000 TL and above,
- Transactions over 20 million TL will not be able to be processed without detailed explanation and documentation.
Users who do not fulfill the declaration obligation will have their high-value money transfers not processed by banks.