Digital Fraud on the Rise: Russia Takes Measures to Combat Threat

A Growing Concern

The threat of digital fraud is increasingly becoming a major concern in Russia, with a significant rise in cases over the past decade. In response to this growing threat, various organizations and government agencies are taking measures to combat it.

Rise in Cyber Fraud Cases

• The number of cyber fraud cases has increased more than tenfold over the past decade, highlighting the need for stronger security measures.
• This surge in digital crimes poses a significant risk to individuals, businesses, and the economy as a whole.

Improving Digital Security

Notary System Plays a Crucial Role

The notary system plays a vital role in developing cybersecurity in Russia. The Unified Information System (UIS) provides high-level security for notarial operations, ensuring that digital transactions are secure and trustworthy.

Government Initiatives

The government has been actively working on improving digital security and cyber resilience in the credit and financial sphere.

• Bank of Russia’s Strict Rules: The Bank of Russia has established strict information security rules for remote identification platforms, marketplace platforms, fast payment systems, and digital customer profiles.
• FinCERT Department: A special department, FinCERT, has been organized under the Central Bank to ensure information security and counter cyber attacks.

Conclusion

The threat of digital fraud is a growing concern in Russia, but various organizations are taking steps to address this issue. By improving cybersecurity measures, developing secure systems, and organizing specialized departments to combat cyber threats, Russia can reduce the risk of digital crimes and protect its citizens and businesses.