CBA: Women's accounts targeted in most theft cases in Azerbaijan

In Azerbaijan, in most cases, money is stolen from women's accounts.

Elnur Eyvazli, Director of the Information Security, Cybersecurity and Digital Fraud Prevention Department at the Central Bank of Azerbaijan (CBA), said this at an event titled "The Future of Financial Cybersecurity in the Age of Artificial Intelligence" held in Baku, Report informs.

"As a result of the measures taken, a decline is being observed in the number of account takeover cases. At the same time, additional support is needed in awareness-raising. Statistics show that women, especially representatives of the older generation, make up the majority of fraud victims. Unfortunately, this trend is clearly seen in cases of theft of financial funds.

We analyze all incidents, assess the lessons learned from what happened and investigate the causes of such cases in order to further improve regulatory mechanisms. Our conceptual approach is that broader integration between state bodies should be ensured. A single platform should be created for incident management, and law enforcement agencies should also have access to that platform. This will make it possible to promptly contact the relevant bodies and respond quickly when an incident occurs," he said.