03.01.2026 08:00
The implementation of the requirement to provide a detailed declaration of the reason for the transfer and the source of the funds for all money transfer transactions exceeding 200,000 TL, planned to take effect in the new year, has been postponed for further work.
With the regulation planned to come into effect on January 1st by the Financial Crimes Investigation Board (MASAK), explanations regarding the reason for the transfer and the source of the money would be requested for money transfers of 200,000 TL and above. The implementation has been postponed to a later date on the grounds that further work will be done on it.
IT WAS EXPECTED TO START ON JANUARY 1
Under the regulation prepared by the Financial Crimes Investigation Board (MASAK) affiliated with the Ministry of Treasury and Finance, it was planned that starting from the new year, individuals conducting EFT, wire transfers, and cash transactions of 200,000 TL and above would be required to declare the reason for the transfer and the source of the money in detail.
GRADUAL DECLARATION REQUIREMENT WOULD BE INTRODUCED
According to the draft regulation, a declaration obligation would be applied for transactions of 200,000 TL and above, and for transfers exceeding 2 million TL, it would be required to fill out a "Cash Transaction Declaration Form." For transactions over 20 million TL, this form would also need to be supported by detailed explanations and supporting documents.
IMPLEMENTATION HAS BEEN POSTPONED TO A LATER DATE
While the announcement was expected to come into effect on January 1, it was stated that a new decision had been made. Accordingly, it was expressed that work on the implementation would continue for a while longer, and therefore the effective date of the regulation has been postponed.
It was noted that the regulation aims to increase the traceability in electronic transfers/wire transfers and cash transactions within the scope of combating money laundering and the financing of terrorism.