The European Union and Council of Europe “Action against money laundering in Türkiye”, in co-operation with the Financial Crimes Investigation Board (MASAK), held a workshop in Ankara to support ongoing domestic efforts to enhance the transparency and reliability of beneficial ownership (BO) data in Türkiye. Participants included representatives from the Ministry of Treasury and Finance, the Financial Crimes Investigation Board (MASAK), the Tax Inspection Board, the Treasury Controllers Board, the Central Bank of the Republic of Türkiye, the Capital Markets Board, the Banking Regulation and Supervision Agency, and law enforcement authorities. Beneficial ownership data refers to information that identifies the individuals or entities who ultimately own or control a company, organisation, or legal entity. In line with international standards set by the Financial Action Task Force (FATF) and the European Union, the workshop addressed practical challenges in identifying beneficial ownership, especially in cases involving complex legal and ownership structures.

Council of Europe experts provided technical guidance on key concepts, legal obligations and risk-based approaches to verifying beneficial ownership information. Participants explored mechanisms for accessing and verifying BO data through central registers and supporting sources. The sessions also covered good practices for strengthening data quality, improving transparency, and addressing and resolve inconsistencies. Practical case studies were used to illustrate how these approaches are applied in practice. The workshop also explored company-level and obliged entity responsibilities in detecting, reporting, and responding to BO violations. Common shortcomings, such as non-registration and failure to update or verify BO data, were discussed alongside enforcement strategies and proportionate sanctions. Participants were presented with examples of regulatory measures under the EU framework and actual enforcement actions were shared.

The role of registries in supporting compliance was a central theme, highlighted by case studies on the Malta Business Registry, which offered practical insights into effective BO register management. The event underscored the importance of transparency, timely updates, and co-ordinated enforcement in combating the misuse of legal entities.

This activity was organised within the framework of the joint European Union and Council of Europe programme "Horizontal Facility for the Western Balkans and Türkiye " and its “Action against money laundering in Türkiye”.