MASAK blocks Hedef Yatırım Bankası's 2 billion lira transfer to Swissquote

September 22, 2026 at 01:24 AM1 min

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Turkey's Financial Crimes Investigation Board (MASAK) halted a 2 billion lira transfer by Hedef Yatırım Bankası to an account at Swissquote. The transaction was reported as a swap, but the Banking Regulation and Supervision Agency (BDDK) found the 40.9 million dollars shown as consideration had not yet been credited to the account.

Key Facts

MASAK halted a 2 billion lira transfer by Hedef Yatırım Bankası to an account at Swissquote.
The transaction was reported as a swap, with 40.9 million dollars shown as the consideration.
BDDK determined that the 40.9 million dollars had not yet been credited to the account.
The amount was found to be a forward-dated commitment rather than an available balance.

The Blocked Transfer

Hedef Yatırım Bankası sought to send 2 billion lira to an account at Swissquote, a Switzerland-based financial institution. The transaction was reported as a swap, with 40.9 million dollars shown as the consideration. BDDK's examination found that the 40.9 million dollars had not yet been credited to the account. The amount was identified as a forward-dated commitment rather than an available balance.

Regulatory Intervention

Following BDDK's finding, MASAK halted the 2 billion lira transaction. The intervention occurred within the scope of an ongoing fund investigation. No further details on the investigation's scope or timeline were disclosed.