Turkey targets mobile money transfers

As part of a major gaming crackdown in the country, Turkey is now targeting mobile money transfers.

After the Banking Regulation and Supervision Agency (BDDK) confirmed late last month that the country is introducing restrictions on money transfers as part of illegal gambling crackdown, new details on the plans were detailed this week.

Turkish media revealed that the BDDK’s plans include a maximum of US$128 on transfer orders to mobile phone numbers, as well as a restriction on mobile users to two financial transactions per day. Moreover, the BDDK would require senders to list their ID numbers and set a 24 hour window where passwords previously sent to transfer recipients remain valid.

The tightening of this control is part of the crackdown on illegal gambling. “In Turkey, about five million people are involved in illegal gambling, for participation in which money is withdrawn through ATMs,” said the BDDK.

Earlier this year, the government announced a national plan to fight illegal gambling operations: the crackdown on illegal gambling businesses would be developed by the Interior and Justice Ministries in coordination with the Revenues Department and the Police Department. National regulators would investigate gaming platforms and venues to shut down unauthorised activities both in the land-based and iGaming sector.