Regulatory Alerts2022-04-05
Methodological Guidelines on Supply and Security of Electronic Banking Services in Azerbaijan
The Central Bank of Azerbaijan issued these Methodological Guidelines to establish comprehensive requirements for the supply, maintenance, and security of electronic banking services across PC, Internet, and mobile platforms. Banks must implement robust risk management, strong user authentication, continuous transaction monitoring, and annual security audits while ensuring clear user notification protocols and contingency plans for third-party service disruptions. The framework mandates encrypted data exchange, fraud detection systems, incident registers, and specific preventive measures against remote cyberattacks to safeguard account integrity and minimize unauthorized access.
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