Shock Operation on IQ Money in Istanbul: Allegations of Illegal Activities

The comprehensive investigation carried out by the Istanbul Chief Public Prosecutor's Office has revealed serious allegations against IQ Money Payment Services and Electronic Money Inc.. The investigation found that the company is involved in organized crime activities such as illegal betting and qualified fraud, systematically facilitating these activities through high-volume financial transfers.

In the legal process, detailed analyses conducted by MASAK indicate that the transaction volume of approximately 155 billion TL carried out through IQ Money is unrelated to ordinary financial processes. The analyses reveal that transactions have been conducted in short time periods, with high frequency and repetitiveness.

This abnormal transaction traffic, combined with the disproportion between deposit and withdrawal transactions, causes a serious loss of trust in the financial system. Notably, the high frequency of terms such as 'bet', 'betting', 'game', 'gambling', and 'fraudulent' in transaction descriptions further raises suspicions about the company's operational lines.

Authorities believe that there exists a large network consisting of the revenues obtained from IQ Money's illegal activities. This situation poses a risk not only to a single company but also threatens the reliability of the entire sector. It has been reported that a trustee has been appointed to halt the company's operations and that its financial activities have been suspended within the scope of the investigation.

Currently, detailed examinations and necessary legal processes are underway regarding the matter. It is thought that the prepared reports will be an important step in preventing similar operations in the financial system. This situation serves as a warning to other companies, emphasizing that a zero-tolerance principle should be adopted in the fight against illegal financial activities.