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Turkey’s Financial Institutions to Benefit from Anti-Fraud Training
A new approach to fighting fraud is set to revolutionize the financial sector in Turkey, as PwC Turkey launches its “Excellence in Fraud Risk Management” framework. The framework aims to help financial institutions identify potential fraud and compliance risks, assess their likelihood of occurrence, and mitigate their impact.
Why Anti-Fraud Training Matters
According to a report by ACFE, nearly 50% of fraud cases occur due to lack of internal controls or override of existing controls. In response, PwC Turkey has developed a holistic approach to fraud risk management, which includes:
- Monitoring and reporting
- Risk identification
- Governance
- Prevention and detection
- Technology
The Financial Ecosystem in Turkey
The financial ecosystem in Turkey is particularly vulnerable to fraud risks, with nearly 70% of organizations experiencing fraud reporting that the most disruptive incident came via an external attack or collusion between internal and external sources. To combat this, PwC Turkey offers a range of services, including:
- AML and sanctions program review
- Third-party risk management review
- Anti-bribery and corruption review
- Ethics hotline implementation
- Code of ethics policy design
Holistic Anti-Fraud Check-Up Service
PwC Turkey’s Holistic Anti-Fraud Check-Up service provides financial institutions with a comprehensive review of their fraud prevention and detection activities, including training for staff on fraud prevention and investigation. Additionally, PwC Turkey offers workshops and other relevant services to help organizations build confidence and take control of their anti-fraud efforts.
Expert Insights
“Fraud risk management is no longer just an internal issue, but a critical concern for the entire financial ecosystem,” said Dr. Gökhan Yılmaz, Partner and Forensics, Compliance and Crisis Management Services Leader at PwC Turkey. “Our holistic approach to fraud risk management helps organizations identify potential risks, assess their likelihood of occurrence, and take proactive measures to mitigate their impact.”
Anti-Fraud Training Services
PwC Turkey’s anti-fraud training services are designed to help financial institutions improve their knowledge, skills, and competence in managing fraud risks. The firm’s expertise in forensic accounting, compliance, and crisis management ensures that clients receive comprehensive support in identifying and addressing fraud risks.
For more information on PwC Turkey’s anti-fraud training services, please contact Dr. Gökhan Yılmaz at +90 212 326 5302 or gokhan.yilmaz@pwc.com.