CBA Gears Up For Establishing Centralized Anti-Fraud Ecosystem In Azerbaijan

2026-06-10 05:12:35

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 10. Work is underway to establish a centralized anti-fraud ecosystem at the national level in Azerbaijan, Chief Specialist of the Payment Systems and Product Development Department of the Central Bank of Azerbaijan (CBA), Elvin Juvarov, said during the second day of“International Finance and Banking Summit 2026: Global Financial Integration of Turkic States” in Baku, Trend reports.

According to him, the main goal is to form a centralized anti-fraud ecosystem at the country level.

"We mentioned this issue last year. Discussions are currently underway on the implementation of this strategy. It's planned to form a centralized system and, in parallel, improve the internal systems of financial institutions. The goal is to ensure information exchange, establish integration with the centralized system, and create a unified anti-fraud ecosystem," he noted.

Juvarov highlighted that the process of preparing unified requirements and control mechanisms in the anti-fraud field is already underway.

"It's planned to present these mechanisms to the market by the end of the year. Currently, preparatory work is underway. At the initial stage, certain control mechanisms and recommendations will be presented to the market, and at the end, it's planned to form unified requirements," he added.

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