Legal Risks in IBAN Money Transfers: Experts Warn of MASAK and Tax Audits

Legal and Financial Risks Looming Recently, businesses seeking to avoid credit card commissions have been directing customers to pay via IBAN, a practice that carries significant risks for both buyers and senders.
Legal experts warn that transfers to unknown numbers or personal accounts could lead to involvement in investigations regarding the laundering of criminal proceeds or the financing of terrorism.
If a recipient's account becomes subject to judicial proceedings, the sender may also become part of a legal investigation.
This makes the description field of the transfer critically important for documenting the nature of the transaction.
The Importance of the Description Field Prof.
Olgun Değirmenci, a faculty member at TOBB ETÜ Faculty of Law, stated that writing the reason for the transaction in the description section prevents misunderstandings.
"Notifications made by banks can lead to monitoring by the Financial Crimes Investigation Board (MASAK).
Even if the source of the money is not criminal proceeds, interaction with suspicious accounts can cause an investigation to be launched against the individual," Değirmenci said.
Especially in the purchase of goods and services, stating the reason for payment serves as the most important evidence in potential future disputes.
Corporate Accounts Should Be Preferred Over Personal Ones Prof.
Mustafa Çolak from Ankara Social Sciences University Faculty of Law emphasized that citizens should use bank accounts registered in the name of the business instead of personal accounts as part of the fight against the informal economy.
Çolak noted the importance of clearly adding details such as car repairs, housing sales, private lessons, or medical examination fees to the description section.
It was reminded that regular and high-value transfers that are not correctly justified could lead to serious grievances as a result of tax audits and legal scrutiny.