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Politics

Parliament backs bill requiring banks to compensate customers for cyber fraud losses

The Legislative Chamber of Oliy Majlis has approved in the second reading a draft law aimed at strengthening cybersecurity and improving the legal framework for combating crimes committed in the digital environment.

Parliament has endorsed a legislative proposal that mandates financial institutions to reimburse customers for losses incurred due to cyber fraud. This forthcoming law incorporates revisions to several existing statutes, notably including stipulations that would compel banks and

cyber fraud compensationbank liabilitycybersecurity regulationdigital evidenceaccount sharing liabilitytransaction suspensioncybercrime preventiondata protection

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