In response to the growing threat of cybercrime and online fraud, the President of Uzbekistan has signed a decree introducing a set of robust cybersecurity regulations aimed at protecting citizens’ financial assets and increasing institutional accountability. The decision outlines strict responsibilities for financial institutions and individual users alike, marking a significant step toward building a more secure digital economy.
➖ Banks, payment system operators, payment organizations, and other entities will be held financially liable for material losses resulting from cybercrimes caused by their failure to comply with information security and cybersecurity requirements;
➖ Individuals who allow their personal banking tools — such as bank cards, accounts, e-wallets, SIM cards, or online accounts — to be used in cybercrimes will face administrative and criminal liability;
➖ A public list of banks and payment organizations that, due to system vulnerabilities or shortcomings, contributed to cybercrimes will be published. Additionally, proactive detection measures will be introduced to identify and stop online fraud schemes (such as financial pyramids) targeting public funds;
➖ To prevent theft of funds from individuals’ bank cards, banks and payment organizations must implement modern antifraud and antivirus protection systems, and technical restrictions will be enforced to block fake phone calls from fraudsters;
➖ A rapid response team will be established, comprising representatives from the Central Bank, payment systems, and law enforcement agencies, tasked with identifying and promptly blocking suspicious bank cards used in illicit transactions.
