Organizations that fail to comply with the upcoming "anti-fraud" law for Azerbaijan's financial sector may face fines.
According to Oxu.Az citing Report, this was stated by Elnur Eyvazli, director of the Information Security, Cybersecurity and Digital Fraud Prevention Department of the Central Bank of Azerbaijan (CBA).
He said the new legislation will establish uniform requirements in the financial sector: "All participants must operate in accordance with these requirements. After the rules are adopted, a one-year adaptation period will be given, followed by inspections."
If violations are found during inspections, warnings will be issued first, followed by fines.
