Compliance Quarterly Türkiye

Global

Failure to prevent fraud: What to do now? Part 2: Policies and procedures

Our regulation and investigations team has published the second article in their series on how companies will need to implement “reasonable procedures” to prevent fraud. 

Read the full Inside Disputes blog, "Failure to prevent fraud: What to do now? Part 2: Policies and procedures."

Türkiye

Sanctions are imposed on Israel by Türkiye

In April 2024, the Republic of Türkiye has imposed sanctions on Israel, banning the export of 54 product groups (identified for potential military use) in response to Israel’s failure to comply with the binding decisions of the United Nations Security Council and the International Court of Justice. A month later, Türkiye announced that they extended the trade ban on Israel to an exportation and importation restriction covering all products.

While specific penalties for non-compliance have not been specified, it has been reported that in practice no products coming from Israel or destined for Israel are processed at Turkish customs. The penalties for and requirements arising from the non-compliance are expected to be announced shortly.