Turkey Proposes Empowering Financial Crimes Investigation Board to Freeze Bank and Cryptocurrency Accounts

BlockBeats News Update, September 30th: According to Bloomberg, Turkey is planning to empower its financial crime watchdog, the Financial Crimes Investigation Board, with greater authority to freeze and restrict access to bank accounts and cryptocurrency accounts to combat money laundering and financial crimes. If the new regulation is approved, the Financial Crimes Investigation Board will have the power to close accounts suspected of illegal activity and can also impose transaction limits and suspensions on mobile bank accounts. The draft legislation is primarily aimed at addressing the practice of "account renting," where criminals pay to use other people's accounts for illegal gambling and fraud.