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.
