The National Bank of Kyrgyzstan is preparing to set up a central anti-fraud centre to combat financial fraud

The National Bank of Kyrgyzstan is working on the establishment of a central anti-fraud centre, which is intended to bring together financial organisations and government bodies into a single system for combating fraud in the digital environment.

This was announced at Cyber Nomad Fest 2026 by Kubanych Musuraliev, head of the financial literacy department at the National Bank of the Kyrgyz Republic.

According to him, the development of digital financial services has simultaneously created new opportunities for fraudsters. Stolen funds can be transferred between banks in a matter of minutes, split across drop-accounts, cashed out or converted into cryptocurrency.

“The sender’s bank does not know where the money has gone next. The recipient’s bank does not know that this money has been stolen,” — noted Musuraliev.

He emphasised that requests between organisations during investigations into such transactions can take days or weeks to process, whilst fraudsters withdraw funds in a matter of minutes. Therefore, he said, it is impossible to combat such schemes at the level of individual organisations alone.

As a first step, the National Bank has required commercial banks, microfinance organisations, payment organisations and payment system operators to implement automated and semi-automated anti-fraud systems. The requirement comes into force on 1 March 2026.

Such systems must monitor transactions, assess their risks, suspend suspicious transfers in a timely manner and prevent transactions involving already known fraudulent details.

“However, a local system can only see transactions within its own client base,” said a spokesperson for the National Bank of Ukraine.
The next stage will be the establishment of a central anti-fraud centre.

It is envisaged that the National Bank will operate this centre. The plan is to connect banks, microfinance and other financial organisations, as well as payment service providers, to the platform.

The Ministry of the Interior is also expected to be involved in the system’s operation, reviewing incidents and making decisions on them. The Prosecutor General’s Office will exercise oversight, whilst telecoms operators and internet service providers will restrict access to identified phishing sites.

The main objective of the central system is to enable the full trail of stolen funds to be traced and for measures to be taken within the first few hours following a fraudulent transaction.

However, the establishment of an anti-fraud centre requires a solution to the issue of sharing information containing banking secrecy and personal data.

“The current law on banks and banking activities contains an exhaustive list of recipients of banking secrecy, and the anti-fraud centre is not included in it,” noted Musuraliev.

According to him, obtaining a court order for every suspicious transaction would not allow for the prompt freezing of funds, as the money could be withdrawn whilst the procedure is underway.

In this regard, a draft law has been drawn up and tabled to amend Articles 67, 68 and 72 of the Law on Banks and Banking Activities. The amendments are intended to establish a legal basis for the transfer of necessary information to the central anti-fraud centre.

Musuraliev noted that the Digital Code of the Kyrgyz Republic also serves as the legal basis for establishing the system.
A joint regulatory act by the Cabinet of Ministers and the National Bank has now been drafted and is currently undergoing approval; this will define the operating procedures of the anti-fraud centre, its participants and their responsibilities, including government bodies and organisations not under the supervision of the National Bank.