Central Bank Prevented Theft of 9.5 Billion UZS Last Year
In 2024, the Central Bank of Uzbekistan has successfully foiled an attempt to steal funds amounting to 9.5 billion UZS. This feat was achieved following over 2,500 requests from law enforcement agencies concerning various fraud cases. The regulator received requests for confidential banking information and processed 460 inquiries related specifically to fraud.
Thanks to the prompt action taken by banks in accordance with the Central Bank’s directives, the stolen funds were frozen on bank cards where illicitly acquired money had been deposited.
The agency also highlighted some common fraud schemes that are being employed. For instance, fraudsters are using spoofed phone numbers with SIP technology to pose as bank employees, payment service providers, Central Bank officials, or law enforcement officers. They also utilize personal information obtained through malicious apps installed on victims’ phones.
Once in possession of the victims’ personal information, the fraudsters claim that the victim’s money is in jeopardy because someone is trying to secure a loan in their name. Subsequently, another fraudster, posing as a security expert from the Central Bank, contacts the victim and presents false identification to gain their trust.
To combat these fraudulent activities, the Central Bank is implementing various anti-fraud measures. For instance, the functionality of banking mobile apps is restricted during audio or video calls. Furthermore, registration and login from devices outside Uzbekistan are only permitted within the country’s borders.
Additionally, new users registering on the mobile platforms of banks and payment institutions will face a one-hour restriction on using linked bank cards as an added security measure. These initiatives aim to safeguard the financial assets and personal information of individuals in Uzbekistan from falling victim to fraudulent schemes.
