Turkey To Use Banks to Oust Illegal Online Gambling

Published Tuesday, September 19, 2017 - Online-Casinos.com
Turkey To Use Banks to Oust Illegal Online Gambling

Turkey is part of the European Union although for some people that may seem a little hard to understand. Turkey is a nation straddling eastern Europe and western Asia with cultural connections to the Greek, Persian, Roman, Byzantine and Ottoman empires. Being in that position the difficulty arises for the online gambling industry which has been going well up until the latest round of threats from the country’s finance minister.

Turkey has gone through periods of political and economic crisis such as in the 70s when the country’s economy collapsed, and the instability led to fighting. Then in the 90s, Turkey was hit by triple-digit inflation and a full-blown Kurdish insurgency but Turkey survived.

Turkey’s Finance Minister Naci Agbal was quoted in the local media source saying that the approximated annual turnover from Turkish consumers of betting products on offshore unlicensed online gambling sites is worth about US $11.4b. Agbal said the government is taking steps to ensure the government gets it share and said the Financial Crimes Investigation Board (MASAK) is coordinating detection of illegal activity with local banks. The newest two year plan to oust illegal online betting from Turkey will use the banks to do the job.

Even though Turkey continues to oppose online gambling and make it difficult many offshore internet betting operators continue to serve the market in Turkey. The Finance Minister is saying that surveillance cameras at banks and ATMs will be able to identify people who engage in gambling-related transactions, and these surveillance images will be forwarded to the public prosecutor’s department. Agbal also claimed that criminal elements were controlling many foreign online gambling sites, and  loyal citizens should not “knowingly or unwittingly transmit resources that threaten Turkey’s national security.”

The online gambling market has been shrinking in the jurisdiction due to the volatile political and economic situation so some operators are not that concerned with the perceived threat from the government.



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