Binance Turkey fined 8M lira for non-compliance against money laundering -Breaking
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The Financial Crimes Investigation Board (MASAK) has fined Binance Turkey 8 million lira (nearly $750,000) after the crypto exchange failed the financial watchdog’s audit for monitoring Anti-Money Laundering (AML) compliance.
The Financial Crimes Investigation Board (MASAK), which serves as Turkey’s financial intelligence unit under the Ministry of Finance and Treasury, found crypto exchange Binance’s Turkey operations guilty of violating laws that intend to prevent the laundering of money acquired through criminal means. AccordingMASAK performed an audit on Law No. 5549, on Prevention of Laundering Proceeds of Crime (also known as the AML Law).
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