Azerbaijan to create centralized system to combat digital fraud

Azerbaijan is preparing to establish a centralized system to fight digital fraud, Elvin Juvarov, a specialist in payment systems and product development at the Central Bank of Azerbaijan, said on the second day of the 9th International Banking Forum in Baku, Report informs.

He noted that the new platform will enable automated information exchange among banks, payment organizations, and law enforcement agencies, significantly strengthening the country's anti-fraud capabilities. Initial discussions on the project are already underway.

Juvarov explained that citizens often report fraud either to a bank or to the police, which prevents a full picture from emerging. The centralized system will gather all data on a single platform and compare it automatically.

He added that the system will allow real-time information sharing between banks and police, enabling faster fraud detection and more accurate risk assessment. It will also ensure the preparation of complete, up-to-date statistics and prevent cases where citizen complaints are lost between institutions.

According to Juvarov, the initiative represents an important step toward enhancing digital security and minimizing fraud incidents in Azerbaijan.