The Central Bank of Azerbaijan (CBA) is further strengthening the fight against fraud and cybercrime in the financial sector. This was reported by the Deputy Chairman of the CBA, Vusal Khalilov, within the framework of the international event “International Finance and Banking Summit 2026: Global Financial Integration of Turkic States” held in Baku.
According to him, the Central Bank has a relevant department for information security and cybercrime, as well as an anti-fraud center. It is planned to introduce new rules that will further strengthen the fight against fraud by the end of the year.
Vusal Khalilov said that the Central Bank is also focused on setting limits for the sector and implementing risk-based control mechanisms. He noted that significant achievements have already been achieved in this area as a result of effective cooperation with various state agencies.
The Deputy Chairman emphasized that educating the population is one of the main priorities in the fight against financial fraud. For this purpose, continuous work is being carried out together with relevant associations.
During his speech at the summit, Vusal Khalilov also touched upon indicators related to the development of digital payments in the country. According to him, in May, the share of the Instant Payments System in the National Payments System increased to 54 percent and it is planned to further increase this indicator in the coming period.
He said that important measures are being taken to expand the scope of the Instant Payments System and the number of users connected to the system is constantly increasing.
Vusal Khalilov noted that one of the main challenges facing the financial sector is related to costs. According to him, although digitalization and the development of cashless payments require additional investments, the implemented projects serve to reduce costs in the long term.
The Deputy Chairman added that Az-QR payments are currently one of the lowest-cost payment instruments on the market. This system makes a significant contribution to reducing the operating costs of economic entities and expanding cashless settlements.
The Central Bank continues to take comprehensive measures to develop digital financial services, form a secure payment environment, and increase transparency in the financial sector.
