KVKK (Kişisel Verilerin Korunması Kanunu)
Law 6698 — Turkey's GDPR-equivalent; March 2024 amendment aligned cross-border data transfer regime with EU adequacy standards
Kişisel Verileri Koruma Kurumu
Europe & Central Asia · GDP rank #17
Turkey
TR · TRY @ 0.0219/USD
Turkey is the largest payments market in its region by transaction count and the most unstable by currency. A domestic instant rail (FAST) cleared 2.3bn transactions in 2024 against a lira that the CBRT spent US$43bn of reserves defending in March 2026 alone. Card economics rest on a decade-long installment (taksit) culture that keeps credit-card penetration near 96% of adults; Troy domestic-scheme issuance reached 67m cards in early 2026, around 20% of card spend. The CBRT held the policy rate at 37% through April-May 2026 after pausing a five-cut easing cycle.
Tab 06
Fraud & security
Headline fraud totals and typology splits, the rollout of EMV chip, tokenisation, 3DS and biometrics, and the controlling data-protection and payments statutes.
APP (authorised push payment) fraud on FAST grew sharply as the rail's consumer penetration doubled; TCMB mandated confirmation-of-payee by Q3 2026 (Circular 2025/8).
Reported payment fraud · 2024
3.8B TRY▲ +28% vs prior year
Card-not-present share
79%
3DS adoption on CNP
92%
Trend lines
What's growing fastest
Where a full typology breakdown is not published, the authorities typically disclose year-on-year growth in specific scam categories. Authorised push-payment (APP) scams and account-takeover fraud are the canonical “wallet era” concerns in most markets.
- Card-not-present share79%
- APP scam growth YoY+47%
- Account takeover growth YoY+38%
Controlling regulation
TCMB Circular 2025/8 — Confirmation of Payee
Mandatory VoP on FAST by Q3 2026
TCMB