The Central Bank of Armenia, together with banks, is considering introducing stricter mechanisms to protect against telephone fraud. This was announced by the head of the regulator, Martin Galstyan, at a press conference. The measures under discussion include enhanced customer identification and restrictions on remote financial transactions, although they will require additional time and resources.
From July 1, 2026, it is planned to launch a "stop button", which allows you to prohibit the execution of online loans and other remote operations with one action. The restriction can only be lifted after personal identification at the bank. According to Galstyan, this will create some inconvenience, but will protect citizens from fraudsters.
The regulator warns that attackers are actively using phone calls and messengers, such as WhatsApp, posing as employees of telecommunications companies. They can convince citizens to make changes to their phone settings in order to gain remote access to banking applications and personal data, which leads to financial losses.
