Failure to comply with the obligations imposed by MASAK regulations (as stipulated by Law No. 5549) may result in administrative or judicial penalties. To avoid any penalties, it is essential to understand and fulfill your obligations.

OBLIGATIONS 

The obligations that must be adhered to by liable parties are outlined below: 

1. Customer Due Diligence (CDD) Measures
2. Suspicious Transaction Reporting (STR)
3. Obligation to Maintain Confidentiality of Suspicious Transaction Reports
4. Implementation of a Compliance Program
5. Appointment of a Dedicated Compliance Officer
6. Obligation to Provide Information and Documents
7. Record Retention and Presentation Obligation
8. Continuous Reporting Obligation
9. Electronic Communication

WHAT ARE YOUR RISKS?

Failure to comply with national and international AML/CFT/PROLIFERATION measures can expose your organization to various RISKS:

1. Legal Risk

The failure to implement AML/CFT/PROLIFERATION measures may result in lawsuits against your organization or negatively impact your organization’s status or operations due to contractual obligations. For instance, in some cases specified by law in our country, the license of a financial institution may even be revoked due to money laundering offenses.

2. Reputational Risk

Non-compliance with AML/CFT/PROLIFERATION measures can damage public perception of your organization’s integrity, potentially hindering the establishment of new business relationships and jeopardizing existing ones.

3. Operational Risk

The inadequate or complete lack of AML/CFT/PROLIFERATION measures may lead to direct or indirect financial losses for your organization. For example, failing to take timely AML/CFT/PROLIFERATION precautions can result in even greater financial losses in the future.

OUR SERVICES

MASAK Corporate Compliance Services

We provide comprehensive support to ensure your organization complies with MASAK regulations and legal obligations.

• Assessment, update, or creation of existing corporate policies, procedures, forms, documents, and practices.
• Consultancy on identifying risky products and processes, and preventive measures, and AML technology.

MASAK Compliance Audit

We conduct periodic audits to ensure compliance with MASAK regulations and provide detailed reporting.

• Periodic compliance reviews and reporting.

MASAK Compliance Training

Our training programs are designed to strengthen your organization’s compliance processes with MASAK regulations.

• Online, interactive video, and in-person MASAK compliance training.
• Certificates issued to those who successfully complete the training.

Legal Advisory for MASAK Penalties

We offer professional support in legal processes related to MASAK penalties.

• Legal consultancy and support in cases related to MASAK penalties.

Responsible Supply Chain (RSC) Corporate Compliance Services

We help optimize your organization’s compliance with Borsa Istanbul’s Responsible Supply Chain (RSC) regulations.

• Assessment, update, or creation of existing corporate policies, procedures, forms, documents, and practices.
• Consultancy on identifying risky products and processes, and preventive measures.

Responsible Supply Chain (RSC) Training

We strengthen your supply chain processes with RSC training programs.

• Online and in-person RSC training.

• Certificates issued to those who successfully complete the training.