Increasing consumers' financial literacy is crucial for the safe use of digital financial services.
Modern.az reports that these views were expressed by Toğrul Əliyev, Deputy Chairman of the Central Bank of the Republic of Azerbaijan, at a forum held on March 12 – World Consumer Rights Day, on the topic “Consumers in the Modern Digital World: E-commerce, Digital Services, and Security Issues”.
He noted that against the backdrop of the expansion of digital financial services, cybersecurity, personal data protection, and online fraud cases are becoming increasingly relevant:
“Fraud cases carried out through social engineering methods, fake messages, and advertisements pose a serious threat in the information environment.
For this reason, joint activity between state institutions and the financial sector is crucial for the safe use of digital financial services, increasing consumers' financial literacy, and preventing fraud”.
The Deputy Chairman also added that work on the implementation of a voluntary credit ban mechanism in Azerbaijan is also nearing completion:
“Thanks to this mechanism, citizens will also be able to pre-emptively prohibit the remote formalization of credit in their name”, - the official concluded.
