Lately, there has been an increase in sales of cut gold in thin strips. The Ministry of Treasury and Finance has taken action to prevent the grievances arising from cut gold. The Ministry of Treasury and Finance has initiated efforts to prevent abuses related to cut gold, which has seen an increase in transactions in recent times. The Ministry is conducting various activities to enhance the fight against informal economic activities within the scope of compliance with the Financial Action Task Force (FATF) standards and the reliability of the financial sector in Turkey. In this context, steps will be taken regarding the precious metal sector. Following the regulations concerning printed precious metals, an increase has been observed in the sales of products described as drawn gold or cut gold, created by turning gold into thin strips and cutting or processing it in various ways. Selling such products to consumers who invest due to lack of any standardized amounts and without having a standard was considered susceptible to abuse. Legislation work has been completed for defining the aforementioned product without a standard and determining the principles and procedures for domestic trading. “ADDITIONAL STEPS WILL BE TAKEN” Treasury and Finance Minister Mehmet Şimşek stated that the efforts to prevent informalities in the precious metal market are being pursued decisively by the Ministry and additional steps will be taken as the work is completed. Şimşek noted: “Just as we are tightening our steps for preventing informalities in sectors and businesses, we are also increasing surveillance of gold products to protect consumers. With our regulation, we aim to eliminate uncertainties in the sector and enhance compliance with international standards in gold trade.”