28.05.2025 14:52
From now on, money transfers can no longer be made solely with IBAN information; transactions will be secured with an SMS verification step. This new application by the Banking Regulation and Supervision Agency (BDDK) aims to prevent fraud attempts.
A new era is beginning to enhance security in the banking system. The time of sending money by simply entering an IBAN number is coming to an end; transactions will now go through a second layer of security with SMS verification.
IBAN ENTRY WILL NO LONGER BE SUFFICIENT ON ITS OWN
The Banking Regulation and Supervision Agency (BDDK) has implemented an important regulation due to the increase in digital fraud cases. After entering the IBAN information, the verification code sent to the mobile phone registered with the bank will also be mandatory for transaction approval.
SECOND SECURITY STEP WITH SMS VERIFICATION
The application, which started in some banks on March 1, will soon spread to all banks. No transaction can be completed without entering the confirmation code received via SMS for each money transfer.
DIGITAL FORTRESS AGAINST FRAUD RISKS
This step by the BDDK will provide significant protection against attacks such as phishing, fake applications, and account takeover. Transactions occurring without the user's consent will be largely prevented thanks to this new system.
TRANSITION PROCESS WILL BE COMPLETED GRADUALLY
The new system is currently active in a limited number of banks. However, in the coming weeks, all banks will transition to the SMS verification system in accordance with the schedule set by the BDDK.
SECURITY WARNING: PROTECT YOUR PASSWORDS
The BDDK warns citizens to use strong and complex passwords. It also reminds that the confirmation codes received via SMS should never be shared with third parties, and that older versions of applications may pose security vulnerabilities.