BAKU, Azerbaijan, June 10. The Central Bank of
Azerbaijan (CBA) develops new recommendations for banks regarding
minimum data indicators, Chief Specialist of the Payment Systems
and Product Development Department of the CBA, Elvin Juvarov, said
during the second day of “International Finance and Banking Summit
2026: Global Financial Integration of Turkic States” in Baku,
Trend reports.
According to him, in the anti-fraud field, the main focus at the
initial stage should be on the formation of regulatory requirements
and control mechanisms. At the same time, banks should strengthen
their internal anti-fraud structures in parallel.
"The reality is that in many organizations, except leading
banks, anti-fraud structures haven't yet been fully formed. In most
cases, these functions are divided between different departments
and are not systematically managed. This reduces efficiency. First
of all, the human resource base should be strengthened, and
separate anti-fraud structures should be established because each
organization should form its own anti-fraud policy and processes
separately. An unstructured approach is ineffective," he noted.
Juvarov also touched upon the importance of "data governance"
issues. According to him, the CBA plans to give banks
recommendations on the application of minimum data indicators
meeting relevant international practice.
He pointed out that it's important to collect various types of
data to connect devices to the customer.
"For this purpose, widely used indicators include MAC addresses.
However, in cases such as rooting or jailbreaking devices, the
possibility of changing the MAC address can reduce the reliability
of the information. Therefore, the use of various data combinations
is considered necessary," the official explained.
The chief specialist added that it's important to promote the
transition to biometric authentication methods to prevent device
replacement and similar risks. According to him, the existing
enhanced customer authentication methods cannot fully prevent
fraud.
"SMS codes and card information are now widely available, and
experience shows that users sometimes share this information
voluntarily or unknowingly as a result of phishing attacks.
Therefore, the application of biometric authentication methods can
act as a more reliable defense mechanism," Juvarov emphasized.
