Turkish authorities have launched an extensive investigation into a money laundering case valued at approximately 47.5 billion Turkish Lira (around $3 billion). The probe concerns suspicious financial transactions conducted via Libya and Iraq, utilizing point-of-sale (POS) devices connected to foreign cards.
The investigation has led to arrest warrants being issued for 85 individuals, including employees from Denizbank and Şekerbank, as well as personnel from Ozan Elektronik financial services company. Suspects face charges of forming a criminal organisation, money laundering, and violating credit card laws.
Inquiries revealed that over 93% of the transactions occurred on the same day using the same cards, and that funds were channelled through 21 companies, each using a single POS device. This raised strong suspicions of coordinated financial operations aimed at money laundering and fraud.
According to Turkish media outlets, authorities initiated their investigations in 2022 after detecting repeated night-time transfers of identical values. This led to simultaneous raids across six provinces, resulting in the arrest of 16 employees and the seizure of assets including 47 vehicles, 84 properties, luxury watches, jewellery, and shares in 10 implicated companies
