MASAK statement on property rights

The Financial Crimes Investigation Board (MASAK), affiliated with the Ministry of Treasury and Finance, has issued a statement regarding recent regulations that have come to the agenda. The statement emphasized that arbitrary practices regarding citizens' property rights will not be permitted.

AKP member Şamil Tayyar had warned that regulations to be made within the scope of combating money laundering and the financing of terrorism could allow for the seizure of assets solely by prosecutor's decision, bypassing institutions such as courts and MASAK. Tayyar had stated that one should be cautious against the possibility of such powers being abused.

In MASAK's statement, details were shared regarding the draft prepared by the Ministry of Justice, on which MASAK also provided its opinion. Accordingly, for crimes such as qualified fraud, qualified theft, and the misuse of bank/credit cards, public prosecutors are granted the authority to seize assets without obtaining a report from MASAK. The purpose of this regulation was explained as preventing the flight of criminal proceeds from the financial system, especially in crimes committed over the internet, and ensuring that payments are made to victims quickly.

The statement also included the following: "In the regulations made by both MASAK and the Ministry of Justice, there is no provision for any matter that could lead to arbitrary treatment regarding our citizens' property rights." MASAK stated that claims falling outside of these regulations should not be given credence.

News Source: 12punto