Protest action held outside government building in Yerevan: participants accuse local banks of fraud

YEREVAN, March 19. /ARKA/. A protest against fraud in the Armenian banking system took place on Wednesday in front of the government building in central Yerevan. The participants accuse some local banks of aiding cybercriminals.

“We have become victims of fraud by cybercriminals. Banks claim their innocence, but why should citizens suffer because of the mistakes and vulnerabilities of these institutions? We are talking about three or four banks. The investigative authorities, in turn, are not fulfilling their duties properly; investigations are being carried out extremely slowly and, in fact, ineffectively,” the protesters said.

They explained the nature of the problem: it turns out that some criminals “without the knowledge of citizens, took out online loans in their name for large amounts.” “The banks claim they are unaware of this, saying we have become victims of cybercriminals. We have suffered financial losses ranging from 700,000 to 1 million drams or more. The investigative authorities are unwilling to protect the rights of the affected citizens,” said the protest participants.

They are demanding that the government take clear and systematic actions, ensure justice in the banking sector, and provide state guarantees for the financial security of citizens.

The protesters collected signatures and submitted a letter to the Prime Minister of Armenia, requesting a meeting to discuss and resolve the issue.

spot_img

POPULAR

Euro and dollar exchange rates against the Armenian dram fell slightly, while the ruble rose,: Central Bank of Armenia

The average market exchange rate for the US dollar to the Armenian dram, formed on the Armenian foreign exchange market as of June 19, 2026, fell by 0.04 points compared to June 18, to 368.15 drams.

Armbanks Weekly Digest: Key Events in Armenia’s Financial Market (June 15–21)

The financial week in Armenia was marked by Central Bank decisions, discussions of public debt parameters, inflation dynamics, and institutional changes in the banking sector.

Head of Central Bank allowed for a reduction in loan rates in Armenia, but with a caveat

Interest rates on loans in Armenia may decrease if favorable inflation and geopolitical conditions persist, stated Martin Galstyan, Chairman of the Central Bank of Armenia, on Public Television.

Unibank and “Vanq” Charity Fund Support Wheelchair Basketball Exhibition Game in Yerevan

Paralympic gold medalists and U.S. Sports Envoys Rose Hollermann and Steve Serio visited Armenia to conduct a wheelchair basketball masterclass and an exhibition game. Unibank and the “Vanq” Charity Fund jointly sponsored the concluding event held in Yerevan, supporting an initiative that combined sport with a powerful message of determination, resilience, and overcoming barriers. 

Stepan Gishyan Foundation’s grant competition results have been announced

The Stepan Gishyan Charitable Foundation has announced the results of its 2026 grant competition.

LATEST NEWS

spot_imgspot_imgspot_img