MOSCOW, February 13. /TASS/. Russian banks in 2023 prevented fraudulent thefts worth 5.8 trillion rubles ($63.5 bln), but malefactors were able to carry out 1.17 million successful transactions, 33% more than in 2022, the Bank of Russia reported.

"In 2023, banks prevented fraudulent thefts worth 5.8 trillion rubles. However, the malefactors managed to carry out 1.17 million successful transactions (33% more than in 2022) and steal 15.8 billion rubles ($173 mln). One of the possible reasons was more targeted and prepared attacks by telephone fraudsters," the regulator said.

As a result of attacks by cyber fraudsters, bank customer losses increased by 11.5%. The volume of transfers via bank cards, which remains the most popular payment instrument among fraudsters, increased by almost the same percentage. It was from cards that the most money was stolen.

"The use of sensitive data by malefactors increases the risk of theft of both citizens’ own savings and credit funds received under the influence of fraudsters," the regulator notes.

Bank of Russia’s requirements for anti-fraud procedures

The regulator plans to establish requirements for anti-fraud procedures of banks when issuing loans and borrowings. Also, from July 2024, a new mechanism for combating fraudulent transactions related to funds transfers will come into effect. The bank will suspend suspicious transfers for two days so that the client can refuse the transaction. If the bank does not suspend the transfer of money to a fraudulent account, information about which is in the regulator’s special database, and transfers funds to the criminals, it will be obliged to return the funds to the client.

According to the regulator, last year the share of funds that banks returned to clients almost doubled (1.38 billion rubles ($15.1 mln), or 8.7% of the total volume of stolen money). The regulator sent for blocking information about 575,700 telephone numbers used by malefactors, and initiated the blocking of 42,800 fraudulent sites and pages on social networks.