Money Laundering Problem: A Turkey Perspective

For the majority of crimes, the primary motive is money, as individuals and even states are differentially treated depending upon their economic power. Coupled with the peaceful atmosphere of the post-Cold War era, financial liberalization and globalization of countries has resulted in economic power replacing military and demographic power. In other words, money has become the unique criteria of power in the modern age. The power of money has penetrated every aspect of human life. Thus, within the crime world, it can be argued that money laundering is the pre-eminent crime. Money laundering poses a serious challenge to the maintenance of law and order within countries, and it threatens the integrity, reliability, and stability of governments, financial institutions, and economic life. Fueled by the development of high-tech telecommunications and financial liberalization and globalization, the entire world now faces the threat of money laundering more than ever. Transnational criminal organizations make huge profits by engaging various illicit activities, mainly narcotics trafficking, the most far-reaching and profitable one, and trafficking in person, arms trafficking, trafficking in environmental products, and smuggling of art and antiquities. The difficulty and complexity of money laundering investigations is challenging not only for developing countries but also for modern and industrialized countries. As for Turkey, It has to face a number of extra impediments distinguishing it from other countries and making its fight against money laundering more difficult. This paper aims to elucidate and explain Turkey’s money laundering problem and focus on the efforts Turkey invested both at the national and international level to curb money laundering in Turkey.