In 2020 Cyber crime has costs $49 Billion to Russian citizens and companies: Sberbank
By MYBRANDBOOK
As per Sberbank, Russia’s largest lender, cyber attacks have cost up to 3.6 trillion roubles ($49 billion) to the citizens and companies of the country.
In an effort to crack down the shadow economy, Russia has encouraged its citizens to switch to bank cards and limit cash use but crimes related to bank cards have shot up by 500% this year, as estimated by the interior ministry.
As per the news source, Stanislav Kuznetsov, Sberbank’s Deputy Chairman, who oversees security and services said that private business and ordinary Russians were the main targets of cyber attacks, as the state security services are better protected.
“The private sector is the most vulnerable: everything from the clients’ accounts to financial data and tender documents are targeted: there are 2.3 million darknet accounts operating in Russian and offering the stolen data,” he said.
The state-controlled Sberbank said that the Russian-speaking cyber criminals operate from Germany, Ukraine, Venezuela and as well as Russia. The Sberbank runs its own cybersecurity unit BI.ZONE to provide IT protection and cyber defence for the bank and for others.
While banks, including Sberbank are better protected compared with other parts of the economy, phone fraud – when the client is asked by a person claiming to be a bank employee to provide a card’s data – is becoming more common, Kuznetsov said.
He estimated Russians may lose as much as 10 billion roubles from phone fraud this year alone. He did not provide data for 2019.
The Russian central bank recorded more than half a million unauthorised operations across bank accounts in the country last year, which saw 6.4 billion roubles stolen from private and corporate bank accounts.
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