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Russian economy’s losses from cyber threats may surge fourfold in two years

October 20, 16:52 UTC+3 SOCHI

Cyber criminals target bank cards, personal accounts in internet banks, major industrial and energy companies

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© Sergei Fadeichev/TASS

SOCHI, October 20. /TASS/. Losses of Russian legal entities and individuals sustained from cyber attacks will surge fourfold in two years and will total over 1.5 trillion rubles ($26.1 bln), Deputy Chief Executive Officer of Sberbank Stanislav Kuznetsov said on Friday.

"Losses from cyber threats will grow four times in two years and will be over 1.5 trillion rubles ($26.1 bln)," the banker said.

Digitalization is currently booming in Russia and therefore it is in the focus of cyber criminals, Kuznetsov said.

They target bank cards, personal accounts in internet banks, major industrial and energy companies and facilities of social infrastructure, he added.

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