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YEREVAN. - Only banks have been so far interested in policies against cyber threats in Armenia, CEO of “INGO Armenia” CJSC Levon Altunyan told Armenian News – NEWS.am.

INGO has been selling a policy on protection from electronic crimes for over 3 years as an option to the general bank insurance. The company is currently working with 4-5 banks. 

Recently it had to raise its insurance payment due to the growth in the number of cyber crimes. For this very reason it’s more effective to insure the electronic databases only in case of general property insurance. Mere insurance of cyber security is inefficient for the client; the policy becomes very expensive due to this, he said.

“The real sector in not yet interested in protection from such threats. The demand is higher among the banks since they are responsible before the depositors,” Altunyan said. 

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