Recently, it has been observed that investors residing in Türkiye, have been subject to phone calls from domestic and international lines in relation to leveraged transactions known as ‘forex’ making false claims that high yields can be obtained. Promises have been made claiming that money transfers would take place to domestic bank accounts for the transactions in question. Increasing complaints and notices have been filed, stating that investor harm is rising due to illegal transactions by organisations that are not authorized by the Capital Markets Board of Türkiye (the Board). In accordance with the capital market legislations investors who are residing in Türkiye, should engage in leveraged transactions (forex) only through institutions that are authorized by the Board.
 
Please refer to the below links to see which institutions are authorized by the Board;
 
https://spk.gov.tr/kurumlar/yatirim-kuruluslari/araci-kurumlar
https://spk.gov.tr/kurumlar/yatirim-kuruluslari/bankalar
 
The execution of leveraged transactions for investors residing in Türkiye by persons other than the institutions authorized by the Board constitutes the crime of unauthorized capital market activity.
 
The second paragraph of Article 109 of the Capital Markets Law No. 6362 stipulates that those who engage in unauthorized capital market activities shall be sentenced to imprisonment from two years up to five years and a judicial fine from five thousand days up to ten thousand days.
 
Within this context, as a result of the investigations carried out by the Board; those individuals who engage in unauthorized market activities and/or who enable such unauthorized market activities to be conducted in an easier manner, by engaging in activities that  promote/advertise such unauthorised market activities, and/or by using the bank accounts and/or telephone lines of themselves and/or the company they are authorized by, shall be subject to criminal complaint with the Prosecutor's Office for the act of unauthorized capital market activity.
 
Furthermore, necessary legal actions are taken by the Board in order to restrict/ban access to websites which enable the conduct of unauthorized leveraged transactions being made for investors residing in Türkiye. 
 
Within this context, it is advisable that individuals only engage in leveraged actions via institutions that have been authorized by the Board and should ignore/disregard any phone calls received in relation to this as this shall prevent investors from becoming victimized, and subject to legal sanctions.  All complaints in relation to this matter must be made to Presidential Communication Center (CIMER).
 
To be announced to the public.