A new banking regulation affecting millions of users is about to take effect. The Financial Crimes Investigation Board (MASAK) is preparing to roll out a new system aimed at preventing unregistered money movements and stopping criminal proceeds from circulating through the financial system.
The system, which was previously scheduled to launch at the beginning of the year but was postponed, is now expected to come into force on March 15, 2026.
What MASAK’s New Regulation Aims to Do
The new framework focuses on tighter monitoring of high-value digital transfers while making money flows more transparent and traceable. Authorities also want to strengthen the fight against money laundering, illegal betting revenues, and informal financial activity.
Another key goal is to reduce the risks faced by individuals who allow others to use their bank accounts — commonly known as “account renting.”
The regulation will cover transactions made via internet banking, mobile banking, and ATMs.
New Requirement for Transfers Above 400,000 TL
Under the new system, users making transfers that exceed a daily total of 400,000 TL — whether in a single transaction or in multiple parts — will need to provide a payment description of at least 20 characters.
If the description field is left blank or considered insufficient, the transaction may not be approved.
New Transfer Categories
Money transfers will now be classified under specific categories such as real estate purchases, vehicle purchases, debt payments, donations, insurance and healthcare expenses, crypto asset transactions, games of chance payments, and consultancy services.
Transfers marked as “other” or “personal payment” will require additional explanation. This step is intended to make transaction analysis easier and help detect suspicious activity more quickly.
Additional Obligations for Transfers of 2 Million TL and Above
Higher-value transfers will face further scrutiny under the new framework. Transactions between 2 million TL and 20 million TL will require the completion of a Cash Transaction Declaration Form.
For transfers exceeding 20 million TL, additional information and documentation regarding the source of funds will be requested.
If the explanation is deemed inadequate, the transfer will not be processed.
Account Renting and Legal Risks
In recent years, many individuals have faced serious problems after allowing others to use their bank accounts for a fee. With the new system, an early warning mechanism will flag unusually large or suspicious transactions.
Those who let others use their accounts may face significant penalties under the Turkish Penal Code. If the account is used in connection with fraud, illegal betting, or money laundering, a criminal investigation may be launched. Accounts can be frozen, and penalties may extend to imprisonment. Banks may also place such individuals on internal watchlists.
Experts strongly warn against sharing IBAN details without proper control.
Pay Close Attention to the Description Field
Authorities emphasize that payments should be made only to officially registered accounts. When paying a company that issues invoices, the recipient account must belong to the same legal entity.
Users are advised to clearly state the product or service in the description field — for example, writing something like “X brand phone payment.”
With the new system, consumers who document their transactions properly will be better protected against potential legal and financial disputes.
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