Deputy Governor's Signature of Central Bank Forged

The President of the Central Bank of Armenia, Martin Galstyan, noted that the volume of the loan portfolio in the banking system amounts to about 7 trillion drams, making it difficult to monitor each case of fraud.

During a meeting with journalists, Galstyan mentioned that the loan portfolio of citizens in the country’s banking system reaches approximately 7 trillion drams. According to him, monitoring every instance of fraud is quite complex with such volumes.

He emphasized that there is no country in the world where there are no frauds in the banking system. “In this direction, the Central Bank regularly takes measures. Our aim is to reduce the number of such cases and to provide institutional solutions in the future,” he stated.

The Central Bank president also recounted that he was recently shown a document in which the signature of his deputy had been forged. “Of course, he does not have such a signature, but a seal of some social security fund was placed on that paper with the intent to commit fraud. I mention this so that our citizens must follow safety hygiene rules. If they receive a call from a financial institution, they should be cautious, not trust immediately, hang up, and call back to ensure they are speaking with the right person,” Galstyan noted.

It is worth mentioning that during a press conference on August 5, the Deputy Governor, Armen Nurbekyan, announced that the Central Bank is preparing to implement a fraud risk management system.