Turkish companies and banks pop up frequently and prominently in the FinCEN Files, a collection of secret documents from the US Department of the Treasury that was leaked to BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ). The files from the Financial Crimes Enforcement Network (FinCEN), a regulatory unit of the US Department of the Treasury, provide insight into suspicious money transactions.
Among the businesses included in the documents, one, in particular, stands out: Aktif Yatirim Bankasi, or Aktif Bank.
It is suspected of having carried out money laundering on a grand scale for a customer network that includes the scandal-ridden German financial service provider Wirecard and shady figures from the porn industry.
Aktif Bank is part of Calik Holding, one of the largest groups in Turkey, to which more than 30 companies belong. Calik, in turn, has close ties with the Turkish government. A number of “suspicious transactions” included in the FinCEN Files were made while Berat Albayrak was CEO of Calik Holding. Albayrak is the son-in-law of Turkish President Recep Tayyip Erdogan and is currently Turkey’s Finance Minister.
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The incriminating evidence against Aktif comes from Suspicious Activity Reports (SARs). These are records banks themselves file with FinCEN when they suspect possible violations of financial regulations.
Financial institutions conducting business in the US, such as Aktif Bank, are required to submit SARs. SARs reflect the concerns of compliance officers in financial institutions and do not necessarily prove criminal activity or other misconduct.
Read more: DW
