The General Communiqué of The Financial Crimes Investigation Board No. 21 ("Communiqué") was published in the Official Gazette dated 17 November 2022 and numbered 32016 and entered into force on that date.
What Does the Communiqué Aim?
The Communiqué regulates the tightened measures to be implemented by obliged parties to publicly influential persons ("Publicly Influential Persons"), defined as top-ranking natural persons holding an important public position and board members, senior executives, and other persons holding equivalent positions in international organizations.
Who Does the Communiqué Affect?
The obligations on taking reasonable measures including know your client and certais areas are regulated under the Communiqué concern financial institutions, crypto-asset service providers, and certain non-financial jobs and occupations as set out below;
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Dealers of precious metals, stones, and jewelry and intermediaries of these transactions,
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Those who buy and sell immovables for commercial purposes and intermediaries of these transactions,
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Public notaries,
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Independent lawyers limited to specific duties,
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Certified general accountants, certified public accountants, and sworn-in certified public accountants operating without being attached to an employer, and
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Independent audit institutions authorized to conduct audit in financial markets.
What Does the Communiqué Bring?
According to the Communiqué, by the above-mentioned parties;
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Reasonable measures shall be taken to determine whether the client or beneficial owner is a Publicly Influential Person or not.
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Certain special precautions shall be implemented in business relations and transactions with Publicly Influential Persons or their spouses, first-degree relatives, or relatives.
In case of non-compliance with the obligations introduced by the Communiqué, various penalties may be imposed.
You may find the Turkish version of the Communiqué
here.
MORAL I KINIKOĞLU I PAMUKKALE I KÖKENEK
Burak Batı, Associate