The Regulation Amending the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism (“MASAK Regulation“) (“Amendment Regulation“), which entered into force upon its publication in the Official Gazette dated April 05, 2023, and numbered 32154, amended Article 6/A of the MASAK Regulation. This amendment enables remote identification for legal entities.
With the amendment introduced, within the scope of Article 6/A of the MASAK Regulation, it has been regulated that remote identification method can now be used to verify the identity of legal entities registered in the trade registry in addition to natural persons for the purpose of verifying the identity of the customer in the establishment of a continuous business relationship in cases where the legislation related to the field of primary activity allows the establishment of a contract with the customer by methods that allow the verification of the customer identity without coming face to face. The title of the relevant article has been changed to “Remote identification of real persons and legal entities registered in the trade registry” in line with the regulation.
With the Amendment Regulation, remote identification method can now be used to verify the identity of legal entities registered in the trade registry as well as natural persons. The provisions of the Amendment Regulation, the principles regarding the customer in remote identification of legal entities registered in the trade registry, the methods to be applied, the measures within the scope of customer recognition and other types of transactions that can be remotely identified will be carried out by the Ministry of Treasury and Finance.
In order for the identification of legal entities to be carried out completely remotely, an amendment should be made to the Communiqué No: 19, which regulates the procedures and principles regarding the remote identification methods to be used for the verification of customer identity; legal entities should be added to the definition of customer.
You can access the Turkish text of The Regulation Amending the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism, which entered into force and published in the Official Gazette dated April 05, 2023 and numbered 32154 through this link.
