The Justice Commission of the Grand National Assembly is currently debating the enactment of the Draft Cheque Law proposed in order to repeal the Law on the Regulation of Payments by Cheque and the Protection of Cheque Holders (Law No. 3167). The current version of the Draft Code refers to cheques drawn by merchants and non-merchants as separate from each other, and establishes several deterrent measures for bearer cheques against their widespread usage in money laundering. Furthermore, the draft also stipulates additional due diligence and notification obligations in relation to cheque accounts with banks. Contrary to the current law, the draft intends to eliminate the discrepancies on the penal sanctions created by the enactment of the Turkish Criminal Code (Law No. 5237).