Finansal Piyasalar Otoritesi to Focus on Mortgage Fraud in the 2026/27 Period

The Finansal Piyasalar Otoritesi (FMA) has placed mortgage fraud at the center of its new priority areas determined for the 2026/27 fiscal period. The Board plans to help deposit-taking institutions strengthen their fraud detection and prevention processes in the upcoming period. In this context, the effectiveness of internal audit mechanisms of both traditional banks and non-bank financial institutions will be closely examined. The main objective stands out as preventing consumers from suffering unjust financial harm while maintaining the integrity of the financial system. Authorities expect this step to contribute to establishing a more robust and reliable credit market infrastructure across the sector.

Currently, it is known that financial institutions face various security risks in the credit and mortgage products they offer to their customers. The way institutions manage these risks and the technical measures they take to prevent fraudulent attempts are meticulously monitored by regulatory authorities. The FMA's new strategy aims to encourage institutions to adopt not only a reactive but also a proactive risk management culture. Past breaches and market fluctuations have once again highlighted the need for continuous updates to audit mechanisms. Accordingly, institutions will need to make investments in many different areas, ranging from personnel training to software infrastructure.

Analyzing how financial service providers compensate consumers when resolving issues they face is also among the new priorities of the regulatory authority. The FMA plans to evaluate the proactive compensation processes of deposit-taking institutions towards consumers when issues related to mortgage fraud arise. This review is considered a critical step to measure the transparency and business ethics of institutions regarding acknowledging errors and remedying grievances. The protection of consumer rights and the minimization of grievances are among the most fundamental elements of financial regulations. Therefore, the compensation policies of institutions are expected to be fair, swift, and accessible.

This decisive step towards preventing mortgage fraud holds great importance in terms of increasing trust in the financial system. The Finansal Piyasalar Otoritesi will guide banks and other credit institutions to ensure full compliance with the legislation and provide the necessary oversight. This intensified focus brought by the new period compels institutions to redesign their internal operations and strengthen their risk management departments. This step by the regulatory authority reflects a vision of protecting economic stability by detecting potential systemic risks at an early stage. Furthermore, through this approach, it is aimed to establish a joint and standardized course of action across the sector in preventing financial crimes.

When a general evaluation is made, it is observed that the FMA's 2026/27 targets represent a stricter auditing approach in the financial system. Emphasizing three main pillars—detection, prevention, and compensation of the consequences of mortgage fraud—indicates a holistic approach to crisis management. Rapid adaptation of all deposit-taking institutions to these new priorities is considered essential for market reliability. In the coming years, these regulatory efforts, combined with developments in financial technologies, could allow for a significant reduction in fraud cases. Ultimately, these steps will both protect the balance sheets of financial institutions and strengthen the bond of trust between consumers and the sector.