In recent years, the number of cases of financial fraud has been increasing in Kyrgyzstan. In 2024, the National Bank received more than 1 thousand appeals from citizens, of which about 30% concerned the actions of fraudsters. This was reported by the Chairman of the NB KR Melis Turgunbaev at a press conference.

One of the measures to combat fraud was the introduction of a “cooling-off period” - an international practice that allows customers to give time to think and prevent dubious financial transactions. According to the head of the National Bank, this measure has shown its effectiveness.

In addition, the regulator requires commercial banks to develop anti-fraud systems, which help to identify suspicious transactions. Such systems are expensive, and not all banks have implemented them so far. So far, only large banks have implemented them.

At the same time, the head of the National Bank of the Kyrgyz Republic emphasized that commercial banks received a good net profit at the end of last year.  That is, they have money to implement customer protection systems.

“We are not limited only to these measures. A working group has been created with the participation of specialized ministries, which is developing additional measures,” Turgunbayev said.

At the same time, he emphasized that in many cases citizens themselves become victims of fraudsters, giving them their codes and personal data. In this regard, the National Bank is conducting active explanatory work among the population.

“Fraudsters are constantly finding new methods, but we strive to minimize their influence,” concluded the chairman of the National Bank.