Turkey

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

16th April 2020

Turkish investment agency supported one-time al-Qaeda financier for energy projects

İlker Aycı, then-president of the Investment Support and Promotion Agency of Turkey (ISPAT) and current Turkish Airlines (THY) board chairman, facilitated the investments and private businesses of one-time al-Qaeda financier Yasin al-Qadi, confidential documents have revealed. According to a wiretap authorized by a Turkish court as part of a corruption… Read More

14th April 2020

Ex-Goldman Banker in UK Arranged Bribes to Ghana Officials, SEC Says

A former banker at Goldman Sachs Group Inc. arranged for millions of dollars in bribes to be paid to government officials in Ghana to help a client win a power-plant contract, U.S. regulators said Monday in a civil lawsuit. The Securities and Exchange Commission alleges that Asante Berko, a… Read More

2nd April 2020

Standard Chartered Fined for Violating Russia Sanctions

U.K. authorities have fined Standard Chartered PLC for violating sanctions that the European Union imposed on Russia following its annexation of the Crimea region of Ukraine in 2014. The British bank must pay £20.47 million ($25.41 million) for violating the EU’s sanctions against Russia, the U.K. Treasury’s Office of… Read More

1st April 2020

Turkey’s State-Run Halkbank Pleads Not Guilty to Massive Sanctions Bust

Not even a pandemic’s relentless spread could stop the prosecution of Turkey’s state-run Halkbank, which pleaded not guilty Tuesday to a record-breaking money-laundering scheme. “First of all, welcome everybody,” said U.S. District Judge Richard Berman, greeting listeners across the globe who called in this morning for the extraordinary hearing. “We… Read More

31st March 2020

Iranians buy Turkish homes and passports

Rising numbers of Iranians are using a sanctions-busting scheme to buy property in Turkey and claim citizenship. Using a network of money transfer offices, mostly in Istanbul, they are able to move funds out of accounts in Iran, even though US embargoes have severed the country’s banks from international payment… Read More

23rd March 2020

What’s behind the arrest of Turkish-Azeri billionaire?

As Turkey grapples with the coronavirus pandemic, the March 17 arrest of Azeri-Turkish billionaire Mubariz Mansimov Gurbanoglu failed to draw the attention it deserves. Gurbanoglu was arrested on terrorism charges, part of what he alleges is a web of collusion between global energy giants and Turkish prosecutors. Gurbanoglu, 52, was a former ally… Read More

21st February 2020

Pakistan hopes its steps to ‘eradicate’ terrorism will keep it off a global blacklist

Over the past year, Pakistan says it has “fought and eradicated the menace of terrorism from its soil” by carrying out arrests, seizing property and freezing bank accounts of groups designated as terrorists by the United States and the United Nations. Analysts and current and former U.S. officials predict these… Read More

20th February 2020

Turkey Faces Tax Blacklist If No Changes to Policy, Austria Says

Turkey has until the end of the year to comply with European Union demands on tax transparency, or else risk being added to a list of countries that could face financial sanctions, according to Austrian Finance Minister Gernot Blüemel. The EU’s 27 finance ministers meeting in Brussels determined that Turkey… Read More

20th February 2020

EU adds Seychelles, Cayman Islands, Panama to tax haven blacklist, spares Turkey

European Union finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the EU’s blacklist of tax havens, while giving Turkey more time to avoid being listed, an EU document said on Tuesday. The list, which was set up in 2017 after revelations of widespread tax evasion and… Read More

18th February 2020

Mormon in $470m fraud bought homes and supercars

A California businessman teamed up with a senior member of a secretive polygamist sect to defraud the US government of $470 million which he then used to buy fast cars and luxury homes, a court was told. Lev Dermen, the owner of a chain of Californian truck stops, and Jacob… Read More

Must Read

Two former Julius Baer CEOs reprimanded following money laundering inquiry

Former Vatican Banker Convicted of Money Laundering and Embezzlement

Latvian bank allegedly linked to Putin’s pink palace scheme

Italian mafia sweep nets centrist leader, white-collar workers

China Imports Oil Doctored to Skirt U.S. Sanctions on Venezuela