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Azerbaijan's Central Bank shares strategies to ensure digital manat security (Exclusive)

Economy Materials 11 February 2025 13:27 (UTC +04:00)
Azerbaijan's Central Bank shares strategies to ensure digital manat security (Exclusive)
Evez Hasanov
Evez Hasanov
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BAKU, Azerbaijan, February 11. The Central Bank of Azerbaijan (CBA) has outlined several strategies to ensure the security of the digital manat, the CBA told Trend.

"A primary strategy for safeguarding the digital manat is to secure all transactions using modern encryption techniques. Furthermore, two-step and multi-step authentication, biometric verification, and electronic signature technologies will be utilized. Real-time monitoring and control systems will be established to guarantee the security of financial transactions. Advanced technology solutions will be utilized to anticipate potential dangers and mitigate them promptly," the CBA said.

The CBA pointed out that a standalone security framework will be put in place to tackle DDoS attacks and other cyber threats head-on.

"Financial security systems will be established to protect users' digital wallets and compensate for potential losses due to cyberattacks.

Effective defense mechanisms against cyberattacks and fraud in the implementation of digital currencies are one of the main priorities. All these measures will be carried out following modern cybersecurity standards, with the participation of international experts," the CBA added.

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