YEREVAN, August 1. /ARKA/. Agreements have been signed with over 500 citizens who have fallen victim to banking fraud in Armenia, said the head of the Union of Banks of Armenia (UBA) Daniel Azatyan.
“All cases of banking fraud are being carefully examined, including by law enforcement agencies. Measures are being organized to prevent similar cases of fraud in the future. The problem is not that the banking system was hacked, but in the level of financial literacy of our fellow citizens, who provide their personal data to fraudsters,” Azatyan said.
All banks not only froze credit claims against these individuals, but also signed agreements with the vast majority of victims that no claims will be made against them until the investigation is completed.
“If a high degree of “guilt” of the victim is proven, they will be required to pay these amounts. There were also cases when fraudsters stole money from the accounts of bank clients. Those who signed these agreements had their funds restored,” Azatyan said.
He reiterated that much has been done to ensure that there are as few victims of fraud as possible. Although this creates certain difficulties in conducting transactions, as it requires several stages of verification.
In mid-May of this year, the regulator reported that three Armenian banks – ID Bank, Inecobank and Ardshinbank – as part of the search for interim solutions for clients who suffered from possible fraud, decided to defer the repayment of clients’ obligations for a period of 3 to 5 years.
According to Deputy Chairman of the Central Bank Armen Nurbekyan, in the context of the fight against banking fraud, the issue of tightening some identification requirements is being discussed, in particular, for obtaining online loans, in particular, a fraud insurance mechanism is being considered. -0-
