Turkish financial crimes unit (MASAK) has issued an 8 million Lira fine (approximately $750,000) on the Binance crypto exchange for its non-compliance with the audit process for Anti-Money Laundering (AML).
Additionally, the Financial Crimes Investigation Board (MASAK), found Binance guilty of violating Turkish laws created to prevent money laundering activities for funds acquired through criminal means. This development has now put a spotlight on the activities of Binance and other crypto exchanges operating within Turkey.
To get more information regarding the Binance non-compliance fine, click on this link.
