National Bank of Kyrgyzstan Takes Action Against Fraudulent Accounts
Bishkek – The National Bank of Kyrgyzstan is taking steps to combat fraud with a new draft law that proposes to block suspicious accounts for up to 30 days. This initiative was announced by Bektur Aliev, Deputy Chairman of the National Bank, during a meeting of the Committee on Budget, Economic, and Fiscal Policy of Parliament.
Aliev stated that the proposal has been discussed with commercial banks, microfinance institutions, and payment organizations, all of whom support the 30-day period for investigating suspicious accounts. He emphasized that this timeframe is optimal for resolving any inquiries regarding the account.
In addition to the account blocking measure, the proposed law also mandates all banks and microfinance organizations to install an “Antifraud” system. This system is designed to detect and prevent fraudulent transactions, further enhancing the security measures in place within the financial sector.
The National Bank of Kyrgyzstan is prioritizing the protection of individuals and businesses from fraudulent activities, and this draft law is a significant step towards achieving that goal. The collaboration with various financial institutions in developing these measures highlights the importance of cooperation in ensuring the integrity of the financial system in Kyrgyzstan.
