Turkey

Asia
Turkey

September 8, 2023

I surmise that any number of things associated with cryptocurrencies, including lots of numbers, are unbelievable. But this Bloomberg story, headlined “Boss of Failed Crypto Exchange Gets 11,000-Year Sentence,” has a sentencing number I could hardly believe. Here are…

Shufti Pro Blog

Turkey Remains on the FATF Grey List for AML Regulations Failures

By Richard M.

August 8, 2023

Turkey’s government has failed to comply with Anti-Money Laundering (AML) and Counter-Financing Terrorism (CFT) regulations despite implementing effective mechanisms to combat financial crimes and remain grey-listed by Financial Action Task Force (FATF).
In July 2023, FATF published a report that

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Shufti Pro Blog

Finance Minister Şimşek States Turkey will Devote Itself to the Prevention of Money Laundering

By Richard M.

July 22, 2023

Deputy Treasury and Finance Minister Mehmet Şimşek stated that Türkiye would counter terrorist financing and money laundering, adding that it should be removed from the Financial Action Task Force’s grey list.
In a statement, Treasury and Finance Minister Mehmet

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Faruki Blog

Social Media Survives SCOTUS Scrutiny

By jgreinerficlaw-com-jack-greiner

May 19, 2023

In 2017, Abdulkadir Masharipov carried out a terrorist attack on the Reina nightclub in Istanbul, Turkey, on behalf of the Islamic State of Iraq and Syria (ISIS), a designated Foreign Terrorist Organization. Masharipov killed Nawras Alassaf and 38 others. Alassaf’s…

Food Safety News

EU assesses produce and shellfish controls in Turkey

By Joe Whitworth

March 18, 2023

Two audits by the European Commission’s health and safety agency have looked at checks on food of non-animal origin (FNAO) and bivalve mollusks in Turkey.

A DG Sante audit on FNAO, in September 2022, made three recommendations. The focus was…

SmarTrade

BIS Announces Expedited Licensing Review for Exports to Turkey and Syria to Assist with Earthquake Relief Efforts

By Scott E. Diamond**, Francesca M.S. Guerrero & Samir D. Varma

February 21, 2023

On February 17, 2023, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a statement indicating that it will expedite the processing of export license applications for items needed to assist in ongoing relief efforts in Turkey and…

International Trade Law

OFAC and OFSI Issue Licenses for Humanitarian Aid in Syria and Turkey

By Dj Wolff & Anand Sithian

February 21, 2023

On February 6, 2023, two massive earthquakes of 7.8 and 7.6 magnitude struck Turkey and Syria, resulting in substantial physical damage and tremendous loss of life with over 40,000 deaths as of February 14, 2023. Non-governmental organizations, the United Nations,…

International Compliance Blog

OFSI and ECJU Issue General Licences for Earthquake Relief in Syria

By Alexandra Melia

February 16, 2023

On February 15, 2023, HM Treasury’s Office of Financial Sanctions Implementation (“OFSI”) issued General Licence INT/2023/2711256 (“GL”) in relation to humanitarian activity associated with earthquake relief efforts in Syria and Turkey. OFSI’s action follows a similar move by OFAC last…

Nonprofit Law Prof Blog

Turkey, Syria, and Disaster Relief

By nonprofitlawprof

February 7, 2023

By now, you’ve undoubtedly read about the earthquakes in Turkey that killed at least 5,100 people in Turkey and Syria and left an estimated 150,000 people without homes in Turkey alone. Governments, including several countries in the EU, the…

Shufti Pro Blog

US Officials Visit Iraq to Lessen Currency Crisis, Says Central Bank Governor

By Richard Marley

February 6, 2023

Iraq’s currency may get uplifted after the meeting between the US top treasury officer and the head of the Iraqi Central Bank.
As Iraqi officials describe, the US has restricted Iraq’s access to its own dollars for stamping out the

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