AI technologies against fraud will be integrated into Kazakhstan's banking system

The National Bank of Kazakhstan has adopted legislative amendments aimed at strengthening measures to combat fraudulent activities in the financial market, expanding the functionality of the National Anti-Fraud Center, and simplifying the process of refunding funds to citizens who have suffered from fraudulent actions.

Now, funds blocked due to transactions with signs of fraud can be returned based on a notification from investigative bodies with the sanction of a prosecutor.

In addition, a database of suspicious payment cards and electronic wallets involved in illegal operations will be created at the National Anti-Fraud Center.

At the same time, individuals whose bank accounts have been blocked due to suspicions of fraud will retain access to social payments and other monetary transfers made within the framework of pensions, scholarships, benefits, or salaries.

To ensure high-quality analysis of suspicious operations by financial organizations, the duration of blocking transactions with signs of fraud has been increased from three to five working days.

Another important innovation in Kazakh legislation is the establishment of criminal liability for "dropping," which refers to the transfer of card or account details to fraudsters.

In addition, the National Anti-Fraud Center will integrate its databases with the General Prosecutor's Office, the Committee of National Security, the Ministry of Digital Development, Innovations, and Aerospace Industry, and mobile operators.

The next stage in the development of the Anti-Fraud Center will involve the implementation of artificial intelligence technology, which will identify suspicious activity in banking applications and block questionable transfers at the interbank level.

Currently, more than 200 participants, including banks, microfinance organizations, telecom operators, and government agencies, are connected to the National Bank's Anti-Fraud Center. Over 80,000 incidents have been registered, resulting in the blocking of approximately 3 billion tenge. The National Bank's Anti-Fraud Center was launched in 2024.

Source: nationalbank.kz