TURKEY Increase in Fraud YoY
CNP Fraud Held at Bay Despite Big Increase In E-Commerce
Much like the other countries in this report, Turkey has seen a significant increase in adoption of e-commerce and digital channels in what was already a booming servicing offering. Luckily for our Turkish partners, many of whom have long had robust implementations of enterprise fraud management, they were able to contain any additional threat.
Despite the successes, there is room for improvement, as containment does not drive reduction. The frameworks in the region are largely secure and complete but often inconsistent in their approach, with a handful of entities sticking with rules-based and siloed approaches. There is also a need to apply more focus on the use of data from within and outside of the region; this will pay dividends in combatting and reducing threats rather than remaining as a data silo within Europe.