Ministry of Treasury and Finance Imposes Heavy Sanctions on Unauthorized Foreign Exchange Transactions

Fight Against Informal Economy Continues The Ministry of Treasury and Finance is tightening its oversight of the financial system to ensure security and prevent unfair competition.
As part of the ongoing efforts to combat the informal economy, the ministry has established significant administrative fines for businesses operating without a license.
For 2024, the lower limit for these administrative fines is set at 719,030 TL, while the upper limit for rule violations can reach as high as 3,595,198 TL.
Focus on Jewelers and Risk-Based Inspections Ministry officials emphasized that jewelers, in particular, do not have the legal authority to conduct foreign exchange transactions.
Treasury and Finance Minister Mehmet Şimşek stated that the inspection plan has been developed using a risk-based approach, focusing specifically on regions where trade and tourism are most active.
Minister Şimşek noted that major cities, commercial hubs, and tourist destinations are being prioritized in these enforcement efforts.
He also reminded citizens that they can report businesses engaging in unauthorized transactions through official channels, including the e-Devlet portal, CİMER, and other formal communication lines.