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Bank of Russia identifies 348,590 banking transactions without client consent

At the same time, the share of returned funds from the total volume of such transactions amounted to 11.9%

MOSCOW, December 9. /TASS/. The number of banking transactions without the voluntary consent of clients in the Q3 2024 amounted to 348,590, their volume reached 9.3 bln rubles ($92.45 mln), according to data from the Bank of Russia.

At the same time, the share of returned funds from the total volume of such transactions amounted to 11.9%.

During the reporting period, 16.1 mln transactions without the consent of clients were prevented for more than 4.9 trillion rubles ($48.7 bln).

In July-September 2024, Russian banks also repelled 16.1 mln fraud cyberattacks on customer accounts and prevented the theft of 4.9 trillion rubles ($49.37 bln). However, in the Q3, criminals managed to steal 9.3 bln rubles ($34.91 mln) from people’s accounts.

"In July-September 2024, banks repelled 16.1 mln cyber fraud attacks on customer accounts and prevented the theft of 4.9 trillion rubles. The volume of saved savings is 3 times more than a year earlier," the regulator said.

The recorded losses in July-September significantly exceeded the average values of the previous four quarters. "Banks reported that criminals stole 9.3 bln rubles in the Q3. At the same time, slightly more than 40% of this amount came from online banking and transfers, although previously the most significant losses came from transactions using cards," the Bank of Russia said.

In addition, the Bank of Russia initiated the blocking of 12,100 fraudulent websites and pages in social networks in the Q3, and sent information on 42,100 telephone numbers of perpetrators to telecom operators.

On July 25, 2024, a law came into force in Russia, under which banks are obliged to suspend transfers for two days if information about the recipient of the money is included in the Bank of Russia's database on cases and attempts of fraudulent transactions. Otherwise, the credit institution must return the money to the client within 30 calendar days.