From September 1, Georgian banks and payment services are obliged to suspend high-risk card transfers of clients over 60 years old. This refers to operations exceeding 500 GEL related to online trading, forex, gambling, cryptocurrencies, and virtual assets. The bank can also stop a transaction if its amount or direction sharply differs from the client's usual behavior.
If the system identifies a transfer as suspicious, the bank first suspends the operation and contacts the client. The client has 48 hours to confirm or cancel the payment. If the person refuses the operation or cannot be contacted, the transfer is canceled. However, the client retains the ability to initiate it again. From May 1, 2027, the mechanism is planned to be extended to all types of electronic payments.
The National Bank of Georgia explains the measures by the need to protect elderly people from social engineering and financial fraud. However, former NBG head Roman Gotsiridze called the age criterion discriminatory and questioned its compliance with the Constitution. According to him, age itself should not mean the need for additional control over the disposal of one's own money.