Claim That Banks Will Require Supporting Documents for Cash Withdrawals/Deposits Denied

The Ministry of Treasury and Finance announced that there will be no implementation requiring supporting documents for cash withdrawals from banks or cash deposits into banks. To correct this misconception in the public, the Ministry provided detailed information.

In the statement, attention was drawn to the efforts of the Financial Crimes Investigation Board (MASAK) in combating the informal economy, money laundering, and the financing of terrorism. It was emphasized that these efforts are being conducted meticulously and that reducing the use of cash in economic activities is a desired outcome. However, it was clearly stated that there would be no requirement for supporting documents for cash transactions at banks starting from January 1, 2025.

"The works of the Financial Crimes Investigation Board in fighting the informal economy, money laundering, and the financing of terrorism are being carried out with diligence and sensitivity. While a reduction in cash usage in economic activities is a desired situation, there is no plan to implement a requirement for supporting documents during cash deposits or withdrawals from banks starting from January 1, 2025."

No additional document requirement for cash transactions The statement further noted that the efforts carried out by MASAK aim to create a transparent and reliable environment for all economic actors. Additionally, the Ministry stated that existing practices will continue in accordance with legal frameworks and international standards. Thus, the aim is to cleanse the economic system of informal transactions and to make the financial system more secure. However, it was explicitly mentioned that there are no plans to impose an additional document requirement for cash transactions.

These statements aim to eliminate misunderstandings in the banking sector and to put an end to speculations in the public. The ongoing efforts to achieve a more secure and transparent financial system were emphasized. This will enable both individuals and institutions to conduct their economic activities on a more solid foundation.