Central Bank holds meeting as part of efforts to prevent cybercrime

19-07-2024

19 July 2024, Baku: The Central Bank continues to implement initiatives aimed at ensuring information security and cybersecurity of the financial market. A meeting was held with the joint organization of the Central Bank, the Main Department for Combating Cybercrime of the Ministry of Internal Affairs (MIA) and the Association of Banks of Azerbaijan and with the participation of representatives of banks and e-money institutions operating in the country to discuss current issues related to the prevention of fraud in the use of bank cards. During the meeting the current issues in the field of combating cybercrime were discussed.

 Speaking at the meeting, Mr. Farid Osmanov, Executive Director of the Central Bank, drew attention to the initiatives taken by the Central Bank as part of efforts to combat fraud in digital payments. At the same time, he emphasized the importance of nationwide awareness activities on payment card fraud. These activities should be aimed at all target groups.

Mr. Emil Mehdiyev, Head of the Cybercrime Directorate of the Ministry of Internal Affairs, emphasized the importance of enhancing cooperation with banking and financial organizations to prevent cybercrime and fraud. He highlighted the need for increased collaborative efforts to strengthen cyber awareness and underscored the importance of elevating cooperation to a higher level.

The meeting concluded with a decision to establish a working group comprising personnel from the Cybercrime Combating Department of the Ministry of Internal Affairs and bank representatives. This group will collaborate on joint efforts to combat cybercrime, respond promptly to incidents, and engage in preventive measures.