Seized bank handed over to Türkiye’s regulator in betting probe

ISTANBUL

Authorities have transferred BankPozitif, an investment bank seized as part a broad-scale illegal gambling and money laundering investigation, to Türkiye’s Savings Deposit Insurance Fund (TMSF).

Twenty-three companies were convicted on March 14 in Istanbul over allegations of laundering illicit betting revenues. The operation targeted Flash TV, BankPozitif and Payfix digital payment service, among others, with police detaining 49 suspects, including the channel's owner.

A statement on March 17 revealed that within the bank’s equity rights would be exercised by TMSF due to the investigation involving its principal partner.

Furthermore, of the 43 suspects detained during the operation, 29 have been referred to court.

The remaining 14 detainees were released.

Dozens of properties, lands, bank accounts and cryptocurrency wallets linked to the alleged ringleaders and members were confiscated. Authorities also seized company assets, vehicles and shares, with the total financial impact of the seizures amounting to 6.9 billion Turkish Liras (nearly $188 million).

The financial crimes investigation unit identified 855 high-risk accounts within Payfix's database, allegedly linked to illicit betting.

With illicit betting and online gambling increasingly becoming major revenue streams for organized crime syndicates, an estimated 10 million people in Türkiye have fallen victim to these schemes, causing significant economic losses, according to local media.