(MENAFN – Trend News Agency ) BAKU, Azerbaijan, June 17
By Sadraddin Aghjayev – Trend:
The Central Bank of Azerbaijan (CBA), the financial market regulator, considers its priority task to increase the security of transactions and prevent cases of fraud in the process of cashless payments, Trend reports via CBA’s Twitter publication.
Since 2013, the Central Bank has been collecting and analyzing information on fraudulent transactions with payment cards belonging to non-resident organizations in the internal network of payment services on a quarterly basis, the publication said.
Also, in accordance with the ”Rules for the Issue and Use of Payment Cards” approved by the CBA Board, issuing banks and organizations involved in the processing of payment card data promptly detect and prevent suspicious transactions with their use.
“The timely prevention of threats is facilitated by the availability…