Bank Account Thefts in Russia Doubled in 2020

According to the Prosecutor General’s Office, one in five thefts in Russia involves stealing funds from a citizen’s bank account. Compared to 2019, the number of such incidents identified in the first eight months of 2020 doubled.

From January to August 2020, official data shows that 107,200 cases of money theft from citizens’ accounts were recorded in Russia.

Incidents of fraud involving electronic payment methods also doubled. Representatives of the Bank of Russia told “Izvestia” that cybercriminal groups have become more active as well.

In the first eight months of 2020, experts identified 20,800 cases of fraud involving electronic payment systems. This twofold increase was observed in 90% of regions, with Saratov and Omsk regions leading the statistics.

The Central Bank of Russia also noted the growing activity of cybercriminals this year. However, the Bank emphasized that the percentage of successful attacks has not increased compared to 2019.

Additionally, the number of fraudulent phone calls to Russian citizens saw perhaps the sharpest jump, increasing fourfold. Fortunately, scammers have not come up with new schemes and are mostly using old tricks that readers are likely already familiar with.