As you might be aware, Turkish government declared a “State of Emergency” on 12 July 2016. Since then, many changes have been made to the Turkish legislations.
Please see below for some of these notable changes:
1. Closing Down of Public and Private Institutions
After the attempted coup, many institutions including private radio and television channels, newspapers, magazines have been closed down.
Along with the closing down on the institutions, the assets of these instructions are transferred to the Treasury.
The Presidency of Telecommunication and Communication is closed down. The Presidency was assigned to listen to the phone communications on behalf of the National Intelligence and police department and monitoring the content shared on the internet. Following the closing down of the Presidency the powers of this institution has been given to Information and Communication Technologies Authority.
2. Suspension Period of Suspicious Transactions is Extended to 30 Days
The Treasury is authorised to suspend a transaction for seven working days if it is suspected of being connected to money laundering or terror financing.
The suspension period has been extended to 30 working days during the State of Emergency, without needing any further court decision.