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Threat of card fraud is social in nature

14.06.2021,12:16


June 14, Fineko/abc.az. The U.S.-Azerbaijan Chamber of Commerce (AmCham) has presented a package of proposals "White Paper".

ABC.AZ reports that the White Paper notes that currently card fraud, unauthorized transactions with payment cards and other suspicious card transactions are not regulated by centralized monitoring.

According to the data, for this reason, there are no official statistics on card fraud cases in the market, as well as no central platform for providing relevant information to banks and other market participants, coordinating efforts to prevent card fraud and cooperating with law enforcement agencies. It is noted that the threat of card fraud is of social nature, since the number of cardholders is estimated in millions.