Regulatory Alerts2023-11-30 | ПҚ-381Added
On Measures to Protect the Rights of Consumers of Digital Products (Services) and Strengthen the Fight Against Offenses Committed Using Digital Technologies
The resolution mandates that payment system operators and payment organizations in Uzbekistan must operate as joint-stock companies starting July 1, 2024, with minimum authorized capital requirements of 50 billion soums for operators and 10 billion soums for organizations, rising to 20 billion soums for organizations by July 1, 2025. The Central Bank is authorized to temporarily restrict bank card and account usage for up to three days to prevent fraud, while commercial banks are prohibited from processing cross-border transfers linked to gambling or illegal capital movement. Regulatory oversight for e-commerce and betting is transferred to the National Agency for Strategic Projects, and the Central Bank must implement anti-fraud systems and digital literacy measures within one month. Additionally, law enforcement agencies must update legal frameworks for digital evidence and cybercrime investigation within three months, and the Ministry of Higher Education must establish specialized training programs for digital forensics by the 2024/2025 academic year.