The Ministry of Interior announced Monday that appropriate legal action is being taken against social media users threatening Turkey's economic security by sharing provocative content about the exchange rate from U.S. dollar to lira.
The ministry said it had identified 346 social media accounts since Aug. 7 and legal action has been launched against them.
Istanbul Chief Public Prosecutor's Office said earlier Monday that it has launched an investigation into all types of news media, publications and social media accounts used for operational purposes by individuals and groups threatening economic security.
"An investigation was initiated in accordance with the Turkish Criminal Code, the Banking Law, the CMB legislation and the relevant legal provisions concerning the person or persons involved in acts that threaten economic security through publications or social media accounts for operational purposes," the statement said.
The Capital Markets Board of Turkey (CMB) also said Monday that legal proceedings will be initiated against those who are sharing detrimental fake news.
In the statement, the CMB said, "Issuers who publish any wrongful news about public banks and companies, who make false disclosure will be subject to legal proceedings."
The CMB explained that it works toward the operation of capital markets in an efficient, reliable and transparent environment. Fake media reports can harm the economy by erroneously affecting investors' decision-making processes, thereby damaging the credibility and transparency of Turkey's capital markets.
The CMB said under the Capital Markets Law, any person who gives false or misleading information, rumors, notices, comments or reports to the effect of the prices, values or investors' decisions of capital market instruments may be sentenced to two to five years imprisonment and up to 5,000 days in penalties for those who enable and benefit from the actions.