RUS CB Cyber Fraud Reccomendations


On Mar. 18, RUS CB issued recommendations to combat cyber fraud.


  • RUS CB updated methodological recommendations for banks on warning clients about the risks of theft of their own and credit money by criminals and the consequences of involvement in activities for the withdrawal and cashing of stolen money (droppership).
  • Key Points
  • RUS CB recommends that banks develop scenarios for conversations between employees and clients if they suspect that a person is under influence of fraudsters.
  • Also, banks are recommended to provide clients with services for identifying suspicious calls and anti-virus programs, including those built into mobile applications of banks.
  • Effectiveness
  • The recommendations enter into force on Jul. 25, 2024.

Regulators RUS CB
Entity Types Bank; CNSM
Reference PR, 3/18/2024
Functions Compliance; Financial; Fraud; Legal; Operations; Reporting; Risk; Technology; Treasury
Countries Russia
Category
State
Products Banking
Regions EMEA
Rule Type Final
Rule Date 3/18/2024
Effective Date 7/25/2024
Rule Id 205104
Linked to N/A
Reg. Last Update 3/18/2024
Report Section International

Last substantive update on 03/21/2024