Human Factor Key to Cybersecurity: Forum Tackles Evolving Financial Fraud

The landscape of financial fraud has evolved significantly, with criminals now employing advanced tactics such as fake websites, compromised banking applications, social media manipulation, QR code scams, and even artificial intelligence. This shift from traditional phone-based scams was a key topic at the CYBERFINANCE 2026 forum, organized by the National Bank.

Participants, including government officials, financial sector representatives, and cybersecurity experts, concluded that technology alone is insufficient for safeguarding funds. The critical role of an individual's digital literacy was highlighted as a primary defense. Experts noted that as financial services become more digital, with increased use of mobile banking and online payments, new risks emerge. Fraudsters are refining their psychological manipulation techniques, using fake profiles, phishing messages, and various methods to obtain personal data.

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The weak link in digital security is often the person, not the technology.

"The weak link in digital security is often the person, not the technology," stated one specialist. Even the most advanced security systems can be bypassed if a user willingly shares passwords, SMS codes, or clicks on malicious links. This underscores the need for continuous education on safe online practices.

In response to the growing threat, financial institutions are enhancing their collaboration. Davran Dzhumabayev, head of the cyber threat response department at the National Bank, explained that individual banks struggle to combat modern cyber threats alone. A system for sharing threat information among banks is being established to help organizations quickly identify new attack vectors and implement protective measures. This exchange focuses on technical threat data, not personal customer information or banking secrets, aiming to create a more robust financial ecosystem for everyone.

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Today, it is difficult for one organization to independently counter modern cyber threats. Therefore, a system for exchanging threat information between banks is being created in the financial sector.