01.03.2025 09:30
To prevent digital fraud, a 'two-step verification' system has been implemented for money transfer and EFT transactions. As of today, the application has started in some banks and provides additional security through SMS confirmation. The implementation will gradually become mandatory for all banks over time.
Recently, thefts involving ATM cards and credit cards have prompted banks to take new measures in this area. The Banking Regulation and Supervision Agency (BRSA) has taken action against the increasing cases of fraud in digital banking transactions. As part of the new regulation, a 'two-step verification' system for money transfers and EFT transactions has started as of today. Security measures that have begun to be implemented by some banks will later encompass all banks.
THE AIM IS TO INCREASE SECURITY
Unauthorized access to digital banking applications has rapidly increased unauthorized credit collections and money transfers. The targeting of mobile banking users by fraudsters has led the BRSA to implement a new regulation. In this context, to enhance security in money transfers and EFT transactions conducted through banking applications, 'two-step verification' will be made mandatory.
TWO VERIFICATIONS WILL BE REQUIRED
With the new system, even if access is made from phones registered to mobile banking applications, an additional SMS confirmation will be required during money transfers.
Thanks to this change;
- Preventing unauthorized access,
- Blocking fraudsters from transferring money through a third device,
- Creating an additional layer of security in banking transactions is aimed.
ACCOUNTS WILL BECOME SAFER
The regulation will initially start to be implemented in some banks and will gradually become mandatory for all banks. This new system aimed at increasing security in the banking sector will help users better protect their financial accounts.