MASAK's new practice has started: UN sanctions lists are now published online
Quick Look
- The first implementation of the MASAK notification was made and the information of the people on the UNSC sanctions lists was published.
- Liable parties are required to report these transactions to MASAK and take precautions.
AI-generated summary
Why It Matters
Within the scope of the MASAK notification, the processes of freezing the assets of people on the UNSC sanctions lists and reporting the transactions are carried out.
FIRST APPLICATION HAS BEEN DONE
Following the announcements, obliged parties, especially banks, must immediately notify MASAK of the transactions intended to be carried out by the persons, institutions or organizations within the scope of the decisions in question and take the necessary measures to postpone these transactions.
The first implementation of the communiqué was made and information about the people on the UNSC sanctions lists was published on MASAK's website. Thus, the notification was put into practice.
In this context, it is important for obliged parties to regularly follow the MASAK Presidency's website in order not to miss current announcements and to take the necessary measures in a timely manner.
What to Watch
AI outlook — possibilities, not facts
Obliged parties must make a notification by following the MASAK website
Very likely · Within days
Open Questions
- Which people or organizations were included in the list?
- How will the compliance process of obliged parties be audited?
