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Identity-check limit raised to 370,000 lira in anti-money laundering fight

Photo: Bloomberg HT

A regulation published in the Official Gazette raised the customer identification threshold in the fight against money laundering and terrorist financing to 370,000 lira.

For cash, foreign-exchange and jeweller transactions of 370,000 lira or more, banks, financing and factoring firms, and e-money and payment firms must verify customers' identities. The previous monetary lower limit was 185,000 lira.

Identity-check limit raised to 370,000 lira in anti-money laundering fight

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