ENSURING BANKING SYSTEM SECURITY AMID THE DIGITALIZATION OF COMMERCIAL BANKS: EVIDENCE FROM UZBEKISTAN AND INTERNATIONAL PRACTICE

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The accelerated digitalization of commercial banks expands financial inclusion, reduces transaction costs, and improves service continuity, while simultaneously increasing exposure to cyberattacks, technology failures, fraud, data leakage, and third-party concentration. This study evaluates how banking-system security can be strengthened under rapid digital transformation, using Uzbekistan as the focal case and Estonia under the European Union framework, Singapore, and the United Kingdom as comparative benchmarks. The research applies institutional comparison, content analysis of regulatory documents, descriptive analysis of official banking statistics, and a risk-control mapping method. Central Bank data show that the value of mobile-banking transactions by individuals in Uzbekistan rose from UZS 397.0 trillion in 2024 to UZS 645.6 trillion in 2025, an increase of approximately 62.6 percent. During 2025, the regulator conducted 37 information-security and cybersecurity reviews, reduced the time required to analyse fraud cases from three working days to four hours through platform integration, and included more than 30 information systems of eight commercial banks in the register of critical information infrastructure. The comparative results indicate that Uzbekistan has developed important institutional foundations, including the Law on Cybersecurity and the CERT-CBU sectoral centre, but further progress is needed in harmonised incident reporting, threat-led penetration testing, third-party technology oversight, service-level impact tolerances, and sector-wide recovery exercises. The article proposes a Digital Banking Security and Resilience Framework based on six mutually reinforcing pillars: governance, preventive control, continuous detection, coordinated response, tested recovery, and systemic learning.

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