Turkey’s banking regulator moves on mobile betting transactions

News on 14 Dec 2017

The BDDK, Turkey’s national banking regulator, has published new financial restrictions designed to clamp down on illegal gambling.

The new regulations were drafted in collaboration with the Banking Association of Turkey (TBB) and the Financial Crime Investigation Board (MASAK) (see previous reports).

The three institutions introduced a new system to increase data quality in tracking suspicious transactions on April 26 this year.

The new restrictions include 500 lira ($130) limits on maximum daily financial transfer orders to cell phone numbers – a practice often preferred by players over transfers to bank accounts, along with a limit of two mobile transactions a day per person.

Passwords sent to receivers for security purposes will be valid for only one day, and such transactions will require the ID numbers of the sender.

The new restrictions follow bans on bank accounts linked to illegal betting websites imposed earlier this year by MASAK; these resulted in illegal operators resorting to mobile transactions to circumvent the official action.

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