Turkish Ministry of Trade Issues Crucial Warning on Bank Account Security: Sharing Accounts Carries Serious Risks

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The Turkish Ministry of Trade has issued a renewed warning to citizens regarding the protection of personal bank accounts and financial information. Amid rising fraud and illegal transactions, authorities found that some individuals are allowing third parties to use their bank accounts for financial gain.

The ministry emphasized that simply saying “I just gave my account” does not remove legal responsibility. Account holders can be held legally and criminally liable for all transactions carried out in their names. Such practices contribute to fraud, money laundering, and can lead to severe penalties.

Protect your personal information

The ministry reminded that bank accounts belong solely to their owners and the following information should never be shared under any circumstances:

• IBAN numbers
• Bank card details
• Online banking passwords
• Identity information

These details could be exploited by malicious actors for illegal activities, including money laundering.

Beware of easy money offers

The ministry warned against falling for offers promising easy money in exchange for using someone else’s bank account. Transactions made via an account are initially assumed to be authorized by the account owner, making awareness and control critical personal responsibilities.

Legal responsibilities and penalties

According to the Law on Prevention of Laundering Proceeds of Crime, anyone transacting on behalf of another without notifying their financial institution in writing may face imprisonment and fines.

Report suspicious activities immediately

Citizens are urged to promptly report any suspicious transactions or behavior to their bank or relevant authorities, as it is vital for both personal safety and societal order.

Financial security is in your hands

The ministry concluded by reiterating the importance of safeguarding financial information carefully and never sharing it with third parties.

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