CBA Enhances Cybersecurity Accountability In Financial Sector

(MENAFN- AzerNews)
CBA Enhances Cybersecurity Accountability In Financial Sector Image
Ulviyya Shahin Read more

As technology advances, so do the various fraud scenarios,Khayala Mammadova, senior specialist of the Central Bank ofAzerbaijan (CBA), said at the Fintech Summit held in Baku, Azernews reports.

According to her, various innovations are currently beingimplemented within the framework of cyber security measures:

"In this framework, the Central Bank of Azerbaijan plans to do alot of things in accordance with the cyber security strategy in thefinancial sector. We are also improving our various reporting. Inorder to measure how effective this rule is, certain data from thefinancial sector will also be collected. We are currently improvingcertain accountability examples in order to measureaccurately.”

The specialist added that international experience also showsthat as technology develops, as users regularly use theseinnovations, the number of cyber threats increases: 'We are doingour best to protect citizens and users from these threats.'

Mammadova also pointed out that all suppliers participating inthe infrastructure of the implementation of this strategy, not onlybanks, but also fintech companies, as well as companies providingvarious financial services, should implement the requirements ofthis rule as quickly as possible in their infrastructure.



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