15:35 - 4.12.2024

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December 4, Fineko/abc.az. Participants in the Azerbaijani payment market who have received a license from the country's Central Bank will be required to undergo an annual audit and submit audit reports from 2025.

ABC.AZ reports that Rashad Gasimov, the head of the CBA Department of Development of Payment Services & Payment Systems, made this statement at the VIII International Banking Forum in Baku.

He added that growth of non-cash payments contributes to an increase in the interest of fraudsters in this area, which requires strengthening anti-fraud measures.

"One of the main tasks is to implement strong customer authentication to ensure payment security. In accordance with the new requirements, starting from 2025, all licensed banks and payment organizations will be required to undergo an audit and provide audit reports," Gasimov said.