Penalties for payments made via IBAN have been announced!

FCHAIN Turkey Office informs:

Penalties for businesses receiving payments via IBAN have been determined. Experts have warned that you may even become unable to conduct transactions at the notary. Your assets may be frozen. Many business owners are requesting payments via IBAN from customers by claiming that their POS devices are faulty or not working. Some are even forcing their customers to do so, but in reality, this is illegal. Significant penalties are on the way for those avoiding taxes by using IBAN for transactions. Those who lease out their IBANs to businesses are also under scrutiny. Moreover, it doesn’t stop with these penalties. Bank sanctions are also coming into play.

PENALTIES FOR BOTH THE USER AND THE PROVIDER.

These penalties will not only be imposed on the person leasing out their IBAN or the business leasing the IBAN but also on the customer making payments to the same IBAN. If the IBAN to which the customer sends money is used for illegal activities, the customer also falls under that investigation. According to Law No. 5464, companies cannot force you to send IBAN payments. When a consumer complains about it, the business’s relationship with that bank can be terminated. The person using your IBAN for commission may be asked for taxes and penalties. If we allow someone else to use our bank account, we need to inform the bank. If we fail to inform the bank, we may face imprisonment of up to one year or fines of up to 5,000 days. That bank may not work with you again. In fact, many banks may not work with you anymore because you are now on a blacklist. My account is blocked by the bank and reported to MASAK because I allowed the use of my IBAN. You may even become unable to conduct transactions at the notary. Your assets may be frozen. You may find yourself in prison. In terms of money laundering, financing terrorism, you may be seen as an associated person, as a piece in that chain. At least, as a precaution, your bank accounts may be blocked.”