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The need-to-know legal and practical points surrounding criminal and regulatory enforcement actions against companies in Turkey, including corporate liability regimes, relevant penalties and key features of compliance programmes.
General Overview
The Law No. 7262 on Preventing the Proliferation of Financing
Weapons of Mass Destruction was approved by the Turkish Grand
National Assembly on December 27, 2020 (“
Law No.
7262”). In the general reasoning of the proposal, it
is stated that main aim of the law is to fulfill a number of
recommendations of FATF (Financial Action Task Force) in several
different areas in order to fight against money laundering and
financing of terrorism. The Law No. 7262 mandates changes in
various laws.
It is expected that the Law No. 7262 will be approved by the
President of the Republic of Turkey and published in the official
The Law Proposal on Preventing the Proliferation of Financing
Weapons of Mass Destruction ( Proposal
1 )
which provides several and significant amendments to the Law No.
5549 on Prevention of Laundering of Crime Revenues ( Law No.
5549 ) has been accepted by the Grand National Assembly of
Turkey and is expected to be published in the Official Gazette in
the upcoming days with the law number 7262
2. One of the
most remarkable provisions introduced within the Proposal is the
amendment to the Law No. 5549 which introduces Know Your Client
(KYC) requirements to independent attorneys by way of defining them
as one of the obliged parties
3 .
Scope in terms of Independent Attorneys