Turkey Plans to Let Watchdog Freeze Bank and Crypto Accounts

Turkey is preparing to give its financial crime watchdog Masak expanded powers to freeze and restrict access to bank and cryptocurrency accounts, as part of a clampdown on money laundering and financial crime.

The proposed measures, which align with anti-money laundering criteria set by the Financial Action Task Force, or FATF, are expected to be introduced through a bill to parliament, according to people familiar with the matter, speaking on condition of anonymity as the plan isn’t yet public.

FATF, an intergovernmental watchdog of which Turkey is a member, removed Ankara from its “grey list” of countries subject to increased ...