Anti-money Laundering and Combating Financing Terrorism Law No. 30/2016 mentioned the regulators concerned with regulating and supervising the compliance of the institutions with implementation of the provisions of the laws, regulations, decisions and directives issued to enforce the law.
Whereas the CMA is supervising the companies operating in the field of securities and insurance companies it issued instructions for implementation of the Anti-money Laundering and Combating Financing Terrorism Law for insurance companies vide Decision No. E/3/2020, and instructions to the companies operating in the field of securities vide Decision No. E/4/2020. CMA also established Anti-money Laundering/Combating Financing Terrorism Department (AML/CFT) to oversee, audit and ensure compliance of all the companies regulated by the CMA with the laws, regulations and directives related to anti-money laundering and combating financing terrorism.
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