Türkiye’s Financial Crimes Investigation Board (MASAK) has uncovered organized networks moving gambling proceeds through payment firms, crypto platforms, and bank accounts.
Acting under the Treasury and Finance Ministry, MASAK focused on both the individuals earning illegal income and the financial systems that kept those funds in circulation.
Investigators traced transactions tied to crime groups and responded by freezing and blocking assets. The investigation revealed attempts to shift illegal money using foreign currency and digital assets. By targeting the networks and the channels they relied on, authorities cut off nearly ₺5 billion ($114.38 million) in suspected betting funds before they could spread further through the financial system.
License Revocations and Asset Seizures
The central bank announced that it revoked the operating licenses of six payment and electronic money institutions after investigators found they played a role in moving illicit proceeds. Courts also seized assets tied to one crypto provider and issued another order against a platform suspected of handling betting transactions.
MASAK’s review showed that betting networks built payment setups that looked like normal financial services, often using virtual POS systems.
Exploitation of Third-Party Accounts
Illegal betting networks are increasingly relying on third-party accounts. Treasury and Finance Minister Mehmet Simsek warned citizens not to let others use their financial accounts, stressing that illegal betting networks are now leaning heavily on third-party bank, payment, electronic money, and cryptocurrency accounts. Simsek cautioned:
“Illegal betting organizers have recently begun using bank, payment, electronic money, and crypto asset accounts belonging to third parties. Renting out or granting access could bring criminal consequences.”
Warning to Citizens from Minister Simsek
He explained that arrangements such as “temporary use” or “commission-based access” may amount to participation in money laundering. Some organizers have even persuaded individuals to authorize the creation of limited companies to collect illegal proceeds. Simsek added:
“It is important that citizens do not allow companies established in their name to be used by people they do not actually know.”
