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Central Bank: Unified anti-fraud control mechanisms to be introduced to the market by year-end

Elvin Juvarov, Senior Specialist at the Cashless Payments Analysis Department of the Central Bank of Azerbaijan and an expert on combating digital fraud

10 June 2026 11:29 (UTC +04:00)

Azerbaijan plans to communicate unified control and requirements mechanisms to the market by the end of this year as part of the establishment of a national anti-fraud ecosystem, Elvin Juvarov, Senior Specialist at the Cashless Payments Analysis Department of the Central Bank of Azerbaijan and an expert on combating digital fraud, said during the second day of the International Finance and Banking Summit 2026, APA-Economics reports.

According to him, preparatory work is currently underway in this direction, and unified anti-fraud requirements are being developed in stages:

"At the initial stage, it is planned to develop advisory control mechanisms for banks and payment organizations. One of the main priorities is to present these mechanisms to the market and officially communicate them to sector participants by the end of this year. Subsequently, the full system of unified requirements is planned to be established.

Elvin Juvarov stated that this approach will serve to standardize anti-fraud efforts in the financial sector, strengthen risk management, and create a unified framework for all participants.

"At the same time, efforts are continuing to improve data exchange across the sector and strengthen technological integration. The goal is to establish a centralized, real-time anti-fraud ecosystem," he noted.

Central Bank of Azerbaijan anti-fraud fraud prevention digital fraud Elvin Cuvarov banking sector payment organizations financial security risk management cashless payments financial technology anti-fraud ecosystem real-time monitoring financial services International Finance and Banking Summit 2026