Turkish national terrorist asset freezing mechanism is regulated under Law No. 6415 on the
Prevention of the Financing of Terrorism, which came into force on 16.02.2013. With this
law, an administrative mechanism has been established in order to execute the UNSC
Resolutions, and procedures relating to gaining access to frozen funds has been introduced.
Asset freezing is be implemented in order to;
- Execute the UNSCR 1267 and its successors,
- Respond to the freezing request of foreign countries (UNSCR 1373),
- Make request for freezing assets in foreign countries (UNSCR 1373)
In all cases, the Council of Ministers has the power to decide to freeze assets based on the
information provided by MASAK and other related institutions. Decisions on asset freezing
gain legal validity upon their publication on the Official Gazette. All the necessary procedures
before and after the asset freezing decision of the Council of Ministers is implemented by
MASAK.
Terrorist Asset Freezing Mechanism
1- Freezing of the assets of persons designated by UN Security Council under
Resolutions 1267(1999), 1988 (2011) and 1989 (2011)
Decisions on freezing of asset of persons, institutions and organisations designated by the
United Nations Security Council shall be executed without delay through the decision of the
Council of Ministers published in the Official Gazette. Information on designated persons
conveyed by Ministry of Foreign Affairs are notified by MASAK to Council of Ministers
(Prime Ministry). Applications against UNSC Resolutions are conveyed by MASAK to
UNSC through Ministry of Foreign Affairs.
UNSC R. for
Freezing
(1267-1989)
Ministry of
Foreign Affairs
Council of Ministers
Decision (CDM)
Prime Ministry
UNSC
Publishing CDM in the
Official Gazette
Ministry of
Foreign Affairs
2- Freezing Requests Made by Foreign Countries (UNSCR 1373)
In case of a request made by the government of a foreign country to Turkey on freezing of
asset under the possession of a person, institution or organization, the decision on the request
assessed by the Assessment Commission, shall be made by the Council of Ministers.
Reciprocity principle shall be taken into account in the assessment. Grounds are also required
to be sent together with the request by the foreign country so that a decision can be made.
Freezing
request of the
foreign
country
Assessment
Commission
Council of
Ministers
Decision
(CMD)
Official
Gazette
Prime Ministry
3- Requests made to foreign countries and the procedure regarding the asset in
Turkey (UNSCR 1373)
The Assessment Commission, based on reasonable grounds that the person, institution or
organisations have committed the terrorist acts or the terrorist financing act, may decide; to
make suggestion to the Council of Ministers on requesting for freezing of their asset in
foreign countries. The Assessment Commission also may decide to make denunciation with a
request for initiating an investigation on those related to the asset in Turkey in accordance
with the Criminal Procedure Code No.5271 dated 04/12/2004.
Assessment Commission
The Commission is composed of; General Director of Security Affairs in Prime Ministry,
Deputy Undersecretary of National Intelligence Organisation, Deputy Undersecretary of the
Ministry of Interior, General Director of Criminal Affairs in the Ministry of Justice, General
Director of Research and Security Affairs in the Ministry of Foreign Affairs and General
Director of Financial Sector Relations and Exchange in the Undersecretariat of Treasury
under the chairmanship of the Head of MASAK.
Duties and powers of the Commission are as follows:
a) to submit opinions and proposals below to the Council of Ministers after making necessary
assessments;
1) Asset freezing requests made by foreign countries,
2) Whether the asset freezing decisions taken by the Council of Ministers upon requests of
foreign countries may be repealed or not,
3) The requests of freezing of asset in foreign countries,
4) Whether the decisions on request of freezing of asset in foreign countries taken by the
Council of Ministers may be repealed or not,
b) In the scope of the asset freezing requests to foreign countries, when necessary, to make
denunciation on the relevant persons in connection with the asset in Turkey with the request
of investigation under the Criminal Procedure Law No.5271
MASAK’s Functions Under the Law No 6415
1- Financial Research
For the implementation of the UNSCR 1373, financial research regarding the decisions on
freezing of asset shall be made by MASAK. For the purpose of performing this duty,
information requested from public institutions and organizations and natural and legal persons
shall be conveyed to MASAK without delay in accordance with required procedure, form and
duration. Finance Experts in MASAK perform financial research in order to form a basis for
•
the requests of foreign countries for freezing of asset,
•
the requests to foreign countries for freezing of asset
•
denunciations sent to Public Prosecutor’s Office regarding the asset in Turkey
The research results shall be presented to the Assessment Commission by MASAK.
Function
Duty
Relevant Article
Financial
Research
Making financial research regarding the decisions
on freezing of asset and presenting the research
results to the Assessment Commission
Article 8 of the Law
No.6415, article 16(1)c
of the TF Regulation
Requesting information from public institutions
and organizations and natural and legal persons
within the scope of financial research
Article 16(1)ç of the TF
Regulation
Requesting information, documents and opinions
from relevant public institutions and organizations
with regard to decisions and requests regarding
freezing of asset
Article 16(1)d of the TF
Regulation
2- Execution of Freezing Decisions and Coordination
MASAK is responsible for the execution of the decisions on freezing of asset made in
accordance with the Law No 6415. Main power and duties granted to MASAK within the
CFT legislation are as follows:
Function
Duty
Relevant Article
Execution of
Freezing
Decisions
Conducting Secretariat services of the Assessment
Commission established under Law No. 6415
Law No.
Art.9(4)
Ensuring that asset-freezing decisions are executed
under Law No. 6415
Law No. 6415 Art.
12(2)
Notifying the decisions made by Council of
Ministers pursuant to UNSC Resolutions and
applications against those decisions to Ministry of
Foreign Affairs so as to be conveyed to United
Nations Security Council
Law No. 6415, Art.
5(3),
TF
Regulation.
Art.
16(1)b
Sending injunctions to natural and legal persons and
public institutions and organizations who hold asset
records, to implement the freezing action
Law No. 6415 Art.
12(3,4,5),
TF
Regulation
Art.
6415,
16(1)g
Notifying the repealing decisions to relevant person,
institution or organization implementing the freezing
decision
Law No. 6415 Art.
12(7),
TF
Regulation
Art.16(1)I
Submitting information on persons, institutions or
organizations listed and de-listed under UNSC
resolutions to Council of Ministers
TF
Regulation
Art.16(1)a
Requesting information, documents and opinions
from public institutions with regard to decisions and
requests regarding freezing of asset
TF Regulation Art.
16(1)d
approving unfreezing requests, and unfreezing by
notifying institutions and organizations, and natural
and legal persons
TF Regulation Art.
16(1)e
correcting the misapplications that may occur during
the implementation of the decision of Council of
Ministers
TF Regulation Art.
16(1)f
listing persons, institutions and organizations about
whom decision on freezing of assets has been made
on MASAK website
TF Regulation Art.
16(1)ğ
3- Managament of Frozen Assets
The frozen assets shall be managed under permission of MASAK within the scope of the
principles established in the legislation provided that its possession remains on the natural or
legal person whose assets have been frozen. The power of disposition on frozen assets shall
only be exercised upon the permission of MASAK. Except for the cases permitted by
MASAK, those whose assets are frozen may not engage in actions for obliteration,
consumption, conversion, transfer, assignation, conveyance and other dispositional actions of
the asset. Liable parties shall not allow or facilitate the execution of such actions.
The UNSC Resolution No. 1452(2002) which regulates the procedures for accessing frozen
assets stipulates that the said procedures shall apply to frozen assets pursuant to UNSC
Resolutions No. 1267 and 1373 and their successor Resolutions. Therefore, while granting
permission to access the frozen assets under UNSC Resolutions No. 1267 and 1373, MASAK
shall also follow the procedures proposed in the UNSC Resolution No. 1452(2002) and its
successor Resolutions.
4- Control of Compliance with Freezing Decisions
MASAK shall supervise whether the liable parties act in accordance with the freezing
decision and whether the frozen assets are managed by relevant persons in accordance with
provisions of the Law, by making investigations and examinations on documents and records.
MASAK shall carry out its duty to supervise through examiners and finance experts employed
in MASAK. Fines shall apply if the decision made regarding the freezing of assets pursuant to
provisions of the Law is not enforced or if its enforcement is neglected or delayed.
Function
Control of
Compliance
with
freezing
decision
Duty
RelevantArticle
Controlling whether persons and institutions who
hold asset records comply with the freezing
decision
Law No. 6415 Art. 14(1)a,
TF Regulation Art.16(1)i
Controlling whether the frozen asset is
managed in conformity with the provisions of
this law
Law No. 6415 Art. 14(1)b,
TF Regulation Art. 16(1)i
Punishing the legal persons or persons who
undertakes a duty within the scope of that legal
person’s operational framework.
Law No. 6415 Art.15(2), TF
Regulation Art. 22
Judicial Sanction
Under Law No. 6415, persons who do not obey or who neglect or delay to obey the decision
made regarding freezing of asset in accordance with this Law shall be punished by an
imprisonment for a term of six months to two years or a judicial fine unless such act
constitutes a serious offence requiring a heavier penalty.
Administrative Sanction
In case that the person who does not obey the decision on freezing of asset is an organ or a
representative of a legal person; or a person, who undertakes a duty within the scope of that
legal person’s operational framework, MASAK is authorized to impose on this legal person
an administrative fine between 10,000 and 100,000 Turkish Liras.