BAKU, Azerbaijan, June 25. A centralized platform will be introduced in Azerbaijan to combat suspected fraud, Advisor to the Chairman of the Central Bank of Azerbaijan (CBA) Akif Baghirov said on the second day of the FINTEX SUMMIT 2025 - Finance and Technologies Exhibition held in Baku today, Trend reports.
He noted that the CBA wants to combat fraud in the future through a centralized platform.
"Currently, we are actively discussing this issue with relevant state agencies in a collaborative manner. The Central Bank plans to introduce a centralized platform in this direction so that information on fraud cases occurring in different banks and financial institutions can be exchanged in a centralized manner. Information will be transmitted to special state structures through the centralized platform so that appropriate administrative measures can be taken.
"In addition, we are working on a fraud regulation mechanism. The main focus here is on ensuring that market participants who are likely to experience fraud events are prepared for such events in advance. In other words, we plan to implement the same mechanism for fraud that we have designed for cybersecurity," the official emphasized.
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