Episode #1
December 19, 2025
52 min 39 sec

Fintech and Fraud in Uzbekistan

In our first episode, we discuss the explosive growth of fintech in Uzbekistan and the ‘price’ being paid for digital progress. Together with Group-IB experts, we analyze why the number of cybercrimes in the country has increased 68-fold over the last five years.

In this episode:

  • The evolution of threats: How fraudsters evolved from amateur solo acts into organized groups with management and marketing departments.
  • Credit fraud: Why the main trend of the last two years has shifted from simple theft to taking out loans in the names of unsuspecting victims.
  • Technical vulnerabilities:  How Android malware intercepts SMS codes and why the architecture of local payment systems like Uzcard and Humo has become a target for attacks.
  • Market reaction: How the Central Bank of Uzbekistan seeks a balance between transaction speed and real user security.
  • Survival guide: Why simple blocking doesn’t always save you and how switching to biometrics and push notifications can protect your finances.
Hosts
Mikhail Berezin
Head of Solutions for Fraud and Financial Crimes
Symbat Sadykova
Middle Fraud Operations Analyst at Group-IB
Subscribe to Protocol 443 Series