Business And Markets

Anti-Fraud System Planned

Anti-Fraud System PlannedAnti-Fraud System Planned

A coordination headquarters assigned by President Hassan Rouhani to fight economic corruption met on Monday night to discuss a draft system that would develop IT and electronic services in a way that would curb fraud and facilitate banking operations.

High-ranking officials including the deputy head of the judicial system, minister of justice, vice president for strategic planning and supervision, central bank’s governor, head of the General Inspection Organization, Tehran persecutor, head of the Supreme Audit Court, and a number of lawmakers attended the meeting chaired by first vice president, Es’haq Jahangiri, IRIB reported.

The draft, which is based on a central bank’s report on the same topic, is expected to be finalized after officials receive feedback from executive agencies, banks and the judicial system.

The new system will include an integrated check recognition system, SMS banking, integrated system for providing loans and integrated system for dealing with financial queries, Valiollah Seif, central bank’s governor, said during the meeting. “The bank is determined to finalize the draft system as soon as possible.”

Seyed Mahmoud Ahmadi, secretary general of the central bank, said that the new electronic systems are aimed at providing better services to customers, preventing fraud, and boosting supervisory activity of the central bank, while it also seeks to accelerate data collection for statistical purposes and monitoring.