Did Erdogan just take out a key player in the battle against unlicensed gambling?
A significant breakthrough appears to have taken place in President Recep Tayyip Erdoğan’s resurgent battle against illicit gambling markets.
Following an investigation into his role in propping up illegal gambling networks in Turkey, the assets of Veysel Şahin have been seized, which reportedly included around €460m in crypto assets, through a myriad of companies.
It’s a landmark chapter in the longstanding battle between Erdoğan’s government and the illicit market, as the first usage of new regulatory powers that enable the prosecution office to seize assets in cases where there are suspicions of illicit gambling activity.
The action was undertaken following the work of MASAK, which is Turkey’s Financial Crimes Investigation Board, having been granted direct powers to verify financial transactions to “prevent the proceeds of crime”.
MASAK holds authority, which extends across multiple digital-facing sectors, including gambling and betting activities, e-commerce services, fintech and payment providers, as well as insurance and pension operators.
Findings from MASAK highlighted irregular financial activities by the group, which has led to the momentum of investigation into Şahin and even caused the extradition process to commence.
As a result, Şahin is now under the microscope related to breaching Turkey’s laws against offering betting and games of chance in football and other sports competitions, alongside laundering assets derived from crime.
Taking down Şahin would undoubtedly be a key moment in the story of Erdoğan’s fight against the illicit market – taking out a key player and providing a face to the evil that he has touted as being ‘worse than terrorism’ for today’s youth.
As the force tasked with overseeing Turkey’s fight against the black market, MASAK has also been granted new powers to verify financial transactions to “prevent the proceeds of crime”.
Effective from 1 February, MASAK is now authorised to supervise and mandate identity-verification processes for online transactions, with the directive stating that obligations are being strengthened “within the scope of preventing money laundering and terrorist financing”.
Previous action taken by the taskforce includes a December raid that say 42 suspects detained in a major illegal betting investigation. Like the action taken against Şahin, the operation led to asset seizures, including bank accounts and cryptocurrency wallets.
Throughout 2026, authorities in Turkey have targeted international cooperation and cross-border enforcement to step up the fight against the black market, and the successful extradition of Şahin would represent a positive first step in this process.
