Attention Those Receiving Requests for Documents from the Bank: Credit Cards May Be Blocked!
What happens if the money transfer documents requested by banks under MASAK legislation are not provided? Details on credit card and account restrictions.
In Turkey, banks monitor their customers' financial transactions within the scope of the Financial Crimes Investigation Board (MASAK) legislation. When unusual money transfers or account activities that do not match the declared income are detected, customers may be asked to provide documents explaining the source of the transactions.
Which documents can be requested?
Depending on the nature of the transaction, banks may request documents such as a salary slip, SSI (Social Security Institution) service breakdown, tax return, real estate or vehicle sales contract, invoice, and inheritance documents.
What happens if the documents are not provided?
If the requested information is not provided and necessary checks cannot be completed, certain banking transactions may be suspended. Under the conditions stipulated in the legislation, restrictions may be imposed on the use of accounts and credit cards, and the banking relationship may be terminated.
Will every credit card holder be affected?
The practice does not mean that all credit card holders will automatically be blocked. Reviews are conducted based on the customer's transaction history and risk assessment.
Experts recommend keeping documents showing the source of the transaction, especially for high-amount money transfers, and taking information requests sent by banks through official channels into consideration.
