One Third of Cybercrimes in Russia Committed by 14-15 Year Old Students

The cybersecurity service of Sberbank has compiled interesting statistics on cybercrimes, shared by the bank’s Deputy Chairman Stanislav Kuznetsov. According to the data, cyber threats could cost the Russian economy more than 1.1 trillion rubles this year, and about 40% of cybercrimes are committed by teenagers.

Kuznetsov states that more than a third of digital crimes were carried out by school students aged 14-15. Among the malicious methods, social engineering prevails—over 80% of attacks are conducted using these techniques.

According to the Deputy Chairman, every second attack targets the financial sector.

“The damage to the global economy could reach about $1.5 trillion by the end of the year,” Kuznetsov told the media.

“Unfortunately, the level of openness among those who have been attacked is still quite low. In our estimation, only about 20% of attacks become public, partly because companies are reluctant to disclose information.”

However, the financial sector is now required to report cyberattacks to the Central Bank. The Central Bank will regulate all issues related to cybersecurity in all credit organizations.

According to Artem Sychev, Acting Director of the Information Security Department, the Central Bank received these powers from the government. As a result, all documents on cybersecurity issued by the Central Bank must be followed by insurance, microfinance, and other organizations under its supervision.