The Central Bank of Uzbekistan was authorised to temporarily block bank cards and accounts for suspicious transactions, which should protect against theft and fraud, Sputnik Uzbekistan reports. Shavkat Mirziyoyev signed the decree.
The changes are introduced in accordance with the decree of the President of the Republic, which envisages developing complex measures to improve technological protection of online services and adopting anti-fraud systems to prevent fraudulent transactions. In particular, the Central Bank has the right to issue mandatory instructions to the banks to block cards and accounts for up to 3 days.
Mechanisms will also be introduced to control the use of bank cards and large money transfers between individuals using additional biometric and other security measures. These measures are aimed at enhancing digital financial literacy of the population and preventing bank card scams and frauds through electronic payment systems.
