‘Do not let others use your bank accounts’: Minister

ISTANBUL

Following reports of university students allowing others to use their bank accounts in exchange for money, Treasury and Finance Minister Mehmet Şimşek has made a statement against the practice, warning young people that their bank accounts may be used for illegal activities.

"Dear young people, do not ruin your future. Do not let anyone use your bank accounts. Thus, do not accidentally become a partner in illegal activities," Şimşek said.

The Council of Higher Education (YÖK) has collaborated with the Financial Crimes Investigation Board (MASAK) to inform students about the consequences they may face if their bank accounts are used for illegal purposes.

YÖK cooperated with MASAK upon receiving complaints that university students have been earning income by letting others use their bank accounts and that these accounts may lead to crimes with heavy prison sentences, such as money laundering, financing of terrorism and fraud.

Experts from the Anti-Cyber Crimes Unit of the police and METU Informatics Institute Cyber Security Department also prepared a video explaining that students' bank accounts can be accessed through cyber-attacks, students can be offered to use their accounts for a short period of time in exchange for money, or fraudsters can send links via e-mail, SMS and hijack account information.

Şimşek also drew attention to structural reforms and signaled new regulations on cryptocurrencies. At the assembly meeting of the Istanbul Chamber of Industry, the minister pointed out that there was no regulation on crypto and said, "We are sending it to parliament soon."