Turkey

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

20th November 2019

German police raid suspected hawala banking ring

German authorities have carried out a raid on an organized international network suspected of illegally transferring millions of euros to Turkey. Police searched about 60 apartments and offices in Tuesday’s early-morning raids across Germany. Officers say 27 people are suspected of being involved in the scheme; six arrest warrants have… Read More

18th November 2019

Trump’s Embrace of Sanctions Irks Allies and Prompts Efforts to Evade Measures

President Trump’s increasing reliance on economic sanctions to solve foreign policy problems is fueling concern that the United States is abusing its financial power and prompting some governments to seek ways to evade American measures. In recent months, the United States has increased pressure on Iran and Venezuela, dangled the… Read More

12th November 2019

EU agrees sanctions on Turkey over Cyprus drilling, to add names later

European Union foreign ministers agreed on Monday economic sanctions over Turkey’s drilling off the coast of Cyprus, setting up the legal framework for travel bans and asset freezes but leaving names until a later date. The decision, reflecting a broader deterioration in EU ties with Turkey, aims to punish Ankara… Read More

6th November 2019

Halkbank Wants U.S. to Toss Case It Won’t Recognize

A lawyer for a Turkish bank accused by the U.S. of aiding an Iranian scheme to evade economic sanctions appeared in a New York courtroom for the first time on Tuesday and said the bank continued to dispute the U.S.’s legal authority over it and planned to seek dismissal of… Read More

30th October 2019

Turkey Sanctions Pass U.S. House as Lawmakers Press Trump

The U.S. House overwhelmingly passed a bipartisan bill Tuesday threatening to sanction Turkey, warning that a deal struck with the Trump administration won’t necessarily save the NATO ally from economic punishment for its military operation in northern Syria. The bill to sanction Turkish leaders, Halkbank and other financial institutions,… Read More

24th October 2019

Donald Trump declares Syria ceasefire permanent and lifts Turkey sanctions

Donald Trump has announced that the US will lift sanctions on Turkey, taking credit for a ceasefire deal that should end Ankara’s attack on Kurdish-led forces – at the price of ending the Kurds’ dream of local autonomy. The US president, who has come under withering… Read More

23rd October 2019

Turkey’s Halkbank could face fine for failing to appear in U.S. court: prosecutor

A U.S. prosecutor on Tuesday called Turkey’s Halkbank (HALKB.IS) a “fugitive” after it failed to make an initial court appearance in a criminal case accusing it of conspiring to violate U.S. sanctions against Iran. Assistant U.S. Attorney Michael Lockard said at a hearing in federal court in Manhattan… Read More

23rd October 2019

Convicted Banker’s Appointment at Turkey Bourse Opposed by EBRD

The European Bank for Reconstruction and Development is against Turkey’s appointment of a convicted banker as head of the stock exchange, saying it now has the right to exit its 10% stake in Borsa Istanbul. “We were not consulted on the appointment,” Jonathan Charles, managing director for communications for London-based… Read More

18th October 2019

Congress Pushes Forward On Turkey Sanctions Despite Ceasefire

Republican and Democratic lawmakers vowed to move ahead with sanctions on Turkey despite the announcement by Vice President Mike Pence that Turkish President Recep Tayyip Erdogan agreed to temporarily halt hostilities in northern Syria. South Carolina Republican Lindsey Graham and Maryland Democrat Chris Van Hollen said they welcomed the agreement… Read More

17th October 2019

Settlement Talks for Bank Followed Pressure on Trump by Turkey’s Leader

After repeated appeals to President Trump by Turkey’s president to avoid charges against a state-owned Turkish bank, Attorney General William P. Barr oversaw an effort earlier this year to negotiate a settlement with the bank, two people with knowledge of the matter said. The settlement push abruptly ended on Tuesday… 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