Uzbekistan's banks may be required to check transfers for fraud in real time

Banks of Uzbekistan may be required to check transfers for fraud in real time

In Uzbekistan, banks, payment organizations, and payment system operators may be required to detect suspicious transfers and other transactions around the clock. Depending on the risk level, a transaction can be processed, temporarily suspended for client confirmation, or rejected.

Anti-fraud systems will have to operate 24/7 and analyze transactions in real time based on several indicators and scoring. If a transfer is temporarily blocked or rejected, the client must be notified immediately, provided with an explanation of the reason, and informed of further actions. The draft also provides for additional verification upon detecting signs of social engineering — when fraudsters use deception or pressure to convince a person to perform a transaction themselves.

Banks and payment organizations are also planned to be required to exchange information on suspicious transactions and new fraudulent schemes, report major incidents to the Central Bank, and accept client inquiries around the clock. Anti-fraud models are expected to be verified at least once a quarter. Public discussion of the draft will last until October 9.

Earlier, the InfoCards system was launched in Uzbekistan, through which bank card holders can find out who blocked them and for what reason. Now, to obtain this information, it is sufficient to contact the servicing bank.