Identification thresholds for cash, foreign currency, and jewelry transactions have changed

With the new regulation, the identification threshold for cash, foreign currency, and jewelry transactions has been increased to 370 thousand TL, and the threshold for electronic transfers has been raised to 30 thousand TL.

12punto 07 October 2026

The amendment to the Regulation on Measures Regarding the Prevention of Laundering Proceeds of Crime and the Financing of Terrorism has entered into force. With this regulation, the monetary thresholds used as the basis for identification in financial transactions have been redefined.

The new application covers banks, financing and factoring companies, capital market institutions, portfolio management companies, electronic money and payment institutions, and jewelers.

The regulation also redefined the identification threshold for jewelry transactions.

WHAT ARE THE NEW THRESHOLDS?

The threshold requiring identification for cash, foreign currency, and jewelry transactions has been raised from 185 thousand TL to 370 thousand TL. Accordingly, when the total amount of a single transaction or multiple interconnected transactions is 370 thousand TL or more, it will be necessary to obtain and verify the identity information of the customer and the persons acting on behalf of the customer.

The identification threshold for cash, foreign currency, and jewelry transactions has been increased to 370 thousand TL.

The regulation amendment increased the monetary thresholds applied to financial transactions.
Transaction type	Old limit	New limit
Cash, foreign currency, and jewelry transactions	185 thousand TL	370 thousand TL
Electronic transfers, digital identification, and simplified measures	15 thousand TL	30 thousand TL

The monetary threshold applied to electronic transfers, digital identification, and simplified measures has also been increased from 15 thousand TL to 30 thousand TL. Thus, identity verification processes to be applied in transactions made through digital channels will also be carried out according to the new thresholds.

The new limits cover financial institutions and jewelers.

The regulation amendment also regulated the customer verification methods used in transactions made via internet and mobile channels. The customer's identity can be confirmed with a one-time SMS code to be sent to a previously verified mobile phone number.

Identity information will need to be verified for jewelry transactions of 370 thousand TL and above.

In transactions where the SMS verification method is used, a signature sample will not be taken. However, it will be mandatory for the verification method chosen by financial institutions to be appropriate for the nature and risk level of the transaction.

The regulation also takes into account the total amount of interconnected transactions.

Institutions will be required to provide sufficient assurance that the person performing the transaction is the previously identified customer and to implement necessary security measures against the risk of unauthorized persons performing transactions on behalf of the customer.

The threshold set for electronic transfers has been raised to 30 thousand TL.

The new application also increased the monetary threshold in digital identification processes.

Financial institutions will determine the verification method according to the risk level of the transaction.

One-time code verification via SMS can be used in digital transactions.

A signature sample will not be taken in transactions where SMS verification is performed.

The new rules also introduce a security requirement against the risk of unauthorized transactions on behalf of the customer.