About $82 million was transferred to TikTok users in Türkiye since January 2021 reports Financial Crimes Investigation Board (MASAK). It said that the money was obtained by a limited number of users, while some accounts were used for money laundering and financing terrorism.
TikTok is massively popular in Türkiye, with about 29 million users but like other social media platforms, it may be used for large-scale fraud as well. The short-form video hosting service is being probed by MASAK now over allegations of money laundering. Initial findings show some live-streaming TikTok users obtained donations from others and even created fake accounts for donations to their original accounts, in a bid to rally more people to donate to the original account.
Another finding is mounting suspicions over accounts with a small number of followers that still managed to gather an immense amount of donations although their livestreaming involved nothing but a black screen or a still photo. MASAK says they are suspected to be donated through stolen credit cards and thus, used in money laundering. The probe also found that accounts indirectly or directly linked to the terrorist group Daesh reaped large amounts of donations. MASAK says people affiliated with terrorist groups use the platform to collect funds while avoiding surveillance and facilitating cash transfers.