The Central Bank of Russia published an overview of customer-unauthorised transactions, reporting that credit institutions’ anti-fraud systems blocked 72.17 million attempted thefts in 2024, up from 34.77 million in 2023. The central bank estimated the value of funds saved at RUB 13.5 trillion, compared with RUB 5.8 trillion a year earlier. Despite higher prevention volumes, cyber fraud losses increased, with fraudsters stealing RUB 27.5 billion in 2024, 74% more than in 2023. Measures taken during 2024 included improving the speed and quality of data exchange on fraudulent transactions between the regulator, banks and law enforcement, with the regulator’s database now receiving information on thefts even when victims go straight to the police without first disputing the transaction with their bank. The central bank also initiated the blocking of nearly 172,000 fraud-related phone numbers and slightly over 46,000 fraudulent websites and social media pages.
Central Bank of Russia 2025-02-18
Central Bank of Russia reports banks thwarted 72.17 million fraud attempts in 2024 and strengthened theft data exchange
The Central Bank of Russia reported credit institutions blocked 72.17 million attempted thefts in 2024, saving RUB 13.5 trillion, up from 34.77 million attempts and RUB 5.8 trillion in 2023. Despite increased prevention, cyber fraud losses rose to RUB 27.5 billion, a 74% increase from the previous year. Enhanced data exchange on fraudulent transactions and blocking fraud-related phone numbers and websites were among the measures implemented.