23.01.2026 09:11
An operation was carried out against PAPEL Electronic Money and Payment Services as part of an investigation conducted by the Istanbul Chief Public Prosecutor's Office. While 37 of the 41 suspects, for whom detention orders were issued, were captured, the Savings Deposit Insurance Fund was appointed as the trustee for the payment institution Papel.
The Istanbul Chief Public Prosecutor's Office's Office for the Prevention of the Financing of Terrorism and Money Laundering has initiated an investigation against Papel Electronic Money and Payment Services Inc. and the company's officials for 'violating Law No. 7258' and 'money laundering of assets derived from crime.'
ENTERED INTO THE ILLEGAL BETTING AND MONEY LAUNDERING REPORT
Within the scope of the initiated investigation; it was determined through the Central Bank of the Republic of Turkey (CBRT) audit report and Financial Crimes Investigation Board (MASAK) analyses that the criminal proceeds obtained from illegal betting and illegal forex/fraud activities were systematically funneled into the financial system by facilitating the transfer of money through organizations providing electronic money and payment services, and subsequently, attempts were made to launder these proceeds through numerous domestic and foreign companies. Within the scope of the investigation, it was identified that some suspects, who served as software engineers, information technology (IT) personnel, and project managers within the organizational structure, played a role in the transfer and concealment of the criminal proceeds obtained from illegal betting and illegal forex/fraud activities through electronic money infrastructures, software systems, and financial routing mechanisms, and committed the crime of 'facilitating the transfer of money.'
41 ARREST WARRANTS, APPOINTED AS TMSF TRUSTEE
Simultaneous operations were conducted against the suspects in Istanbul, Ankara, Antalya, Balıkesir, Muğla, Tokat, Kocaeli, and Bursa provinces, and arrest warrants were issued for 41 suspects. Additionally, searches and seizures were carried out at their addresses to obtain financial and digital evidence, trace the proceeds of crime, and preserve the evidence, the assets of the suspects were seized, and the Savings Deposit Insurance Fund was appointed as the trustee for the Papel payment institution.