In the years following the failed coup attempt by the FETÖ terrorist group on July 15, 2016, Turkish authorities have continued efforts to dismantle the financial network of the organization by freezing assets and investigating its ties abroad.
The Financial Crimes Investigation Board (MASAK) has requested that foreign counterpart financial intelligence units share information concerning 559 individuals and entities by the end of 2024, as part of efforts to cut off the economic sources of the Gülenist Terror Group (FETÖ), according to a report released on Monday.
According to information obtained by the Anadolu Agency (AA) from the Treasury and Finance Ministry, investigations and inquiries into the financial structure of the FETÖ terrorist organization began in coordination with prosecutors and law enforcement units following the period from Dec. 17 to Dec. 25, 2013.
By the time of the July 15, 2016, coup attempt, financial investigations had matured and trustees had been appointed to companies linked to FETÖ. In addition, the group’s major financial instrument, Asya Participation Bank Inc., was transferred to the Savings Deposit Insurance Fund (TMSF).
After the failed coup attempt, efforts to dismantle FETÖ's financial structure gained momentum. Through statutory decrees, the group quickly lost its domestic economic assets. During this process, educational and civil society institutions affiliated with the organization were shut down. Trustees were appointed by TMSF to companies linked to, associated with, or in contact with the group, as per relevant laws.
As part of these actions, 934 schools, 109 student dormitories, 104 foundations, 1,125 associations, 15 universities and 19 unions were closed. A total of 784 companies, with a combined asset size of TL 42.3 billion at the time of acquisition, were transferred to TMSF’s management. These investigations also targeted the human resources that constituted the group's financial network.
At the same time, efforts were also made to freeze the domestic and international assets of FETÖ. As part of these efforts, assets of 703 individuals were frozen within Türkiye, and foreign authorities were asked to freeze assets of 241 individuals abroad in line with asset-freezing decisions. The total value of frozen assets amounted to nearly TL 5.5 billion, approximately $2.5 million, some 282,594 euros, and 106.77 grams of gold. Additionally, the frozen assets comprised 851 real estate properties, 66 vehicles, one yacht and 132 commercial registry entries.
MASAK completed 83,091 analysis files related to FETÖ by the end of 2024 and submitted analysis reports concerning 324,574 individuals and legal entities to the judicial authorities.
Cooperative efforts with domestic and international institutions and organizations have continued throughout the fight against the group. In 2024 alone, intelligence information was shared concerning 10,311 individuals and entities.
By the end of 2024, MASAK requested information sharing from foreign counterpart financial intelligence units for 559 individuals and entities as part of its efforts against FETÖ.
The Ministry of Treasury and Finance also has the authority to suspend transactions for up to seven working days if there is suspicion that the transaction involves the laundering of assets or financing terrorism. Accordingly, by the end of 2024, 1,928 transactions suspected of being linked to FETÖ were suspended.
Meanwhile, MASAK continues its coordinated efforts with prosecutors and law enforcement regarding FETÖ.
In addition, surveillance and detection efforts on the organization’s new financial methods are ongoing. MASAK continues to share high-quality financial intelligence, gathered using accessible data sources and technical tools, with judicial authorities, intelligence agencies and law enforcement units.
