Published On: Mon, Sep 14th, 2020

Turkey prepares to chase US dollars 500 billion sent to tax havens abroad

Preparations are being made to reach the $ 500 billion smuggled from Turkey. MASAK is said to have obtained a list of those who sent money to Switzerland, Lichtenstein, the Isle of man, the Seychelles, the Virgin Islands and other tax havens, from a brokerage firm.

Many countries are taking legal steps regarding sending money abroad, money laundering, financial transparency and large-scale corruption. After the European Union (EU) countries and the United Kingdom, which are pioneers in this regard, the United States is also making plans that include different sanctions and legal processes as part of the fight against corruption.

Turkey, on the other hand, is determined to chase $ 500 billion smuggled abroad, starting January next year. As a result of work on int’l level and agreements, many countries have begun to use corruption investigations as a political tool. Examples of tax evasion and money laundering methods of world leaders, especially those that emerged thoroughly with the Panama Papers, began to multiply.

CHP’s representative to the United States, who closely monitors and investigates the developments, presented a comprehensive report to CHP leader Kılıçdaroğlu. “In the coming period, we will see the legal and political consequences of corruption of such business people associated with the state”.

He went on to say, “As soon as Turkey signed the automatic Bank and Financial Information Exchange Agreement, it went after offshore accounts abroad” adding there were significant developments in Turkey regarding money smuggled abroad.

He also shared following: Preparations are being made to reach close to $ 500 billion that the rich have sent out of the country. The Financial Crimes Investigation Board (MASAK) went to a brokerage firm in Istanbul and received a list of those who sent money to Switzerland, Lichtenstein, the Isle of Man, the Seychelles, the Virgin Islands and the tax haven islands. Turkey has announced that it will implement the agreement on Automatic Exchange of bank accounts and financial movements (AIA) from January 1, 2021 and this has shaken the agenda.”

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