Finance

Turkey Freezes TL5bn in Crackdown on Illegal Betting

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Turkey Freezes TL5bn in Crackdown on Illegal Betting

Turkish authorities report significant progress in tackling illegal betting channels after Treasury and Finance Minister Mehmet Şimşek revealed that the Financial Crimes Investigation Board (MASAK) blocked TL5bn (€100m) in illicit funds last year. He warned that individuals renting out accounts under escrow or commission arrangements face money laundering and illegal gambling charges.

MASAK Targets Proxy Networks

Şimşek outlined how illegal operators increasingly used third-party bank, payment, e-money and crypto accounts to conceal cash flows. MASAK focused on criminal networks, disrupting payment firms, e-money providers and crypto wallets used for betting transactions. Some operators even formed limited companies using powers of attorney from unaware individuals, collecting wagers through these corporate shells. Citizens are urged to prevent unauthorized use of their company names.

The crackdown included suspensions of six payment and e-money firms, seizure of assets by court order and confiscation of a crypto provider along with a linked platform. Over 500 intelligence reports and notifications were forwarded to law enforcement for ongoing investigations.

Expanded Oversight Strengthens Control

From February 1, MASAK received broader powers to monitor high-risk sectors such as gambling, fintech, insurance and e-commerce. Betting transactions are now restricted to state-approved operators including sports monopoly İddaa, lottery provider Milli Piyango and horse racing authority Türkiye Jokey Kulübü. Banks and payment providers have tightened surveillance to block diversions to unauthorized platforms.

Şimşek emphasized continued enforcement, including suspensions, license revocations and asset seizures against complicit institutions. Justice Minister Yılmaz Tunç supports stricter penalties and jail terms for facilitators, framing the campaign as a safeguard for Turkey’s financial system.

Proxy Networks Drive System-Wide Measures

Illegal betting has shifted from direct operations to proxy accounts, circumventing previous controls. MASAK’s 2025 interventions foreshadowed its expanded mandate, showing early effectiveness. Corporate fronts and escrow schemes were systematically uncovered, highlighting the risk of criminal liability for citizens lending accounts.

Seizures of six entities and crypto assets, along with over 500 referrals to law enforcement, demonstrate the scale of the crackdown.

Centralized Monitoring and Compliance

MASAK now ensures that all gambling-related transactions flow exclusively to İddaa, Milli Piyango, and Türkiye Jokey Kulübü. Stricter protocols block offshore diversions, while risk-based sector scans improve early detection of illicit activity. Şimşek stressed that these measures are critical to preserving financial integrity.

Enforcement Expands to Institutions

In 2026, action extends beyond individuals to systemic players. Suspensions, asset seizures and compliance checks set precedents for banks and fintechs. MASAK’s gatekeeping role strengthens control over transactions, deterring illegal operations. Banks continue to alert customers that proxy activities violate the law, while stiffened penalties reinforce the campaign’s deterrent effect. The initiative combines intelligence gathering, regulatory enforcement and structural reforms to combat illegal gambling finance.

iGamist Editorial Team

iGamist Editorial Team

An experienced writer covering the latest trends in online gaming and iGaming industry.

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