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Central bank proposes simplified compensation procedure for victims of fraudsters
The Central Bank proposed a mandatory refund to victims of fraudsters, with the amount of refund to be determined by the regulator.
The proposals signed by Head of Information Security of the Bank of Russia Vadim Uvarov were sent to market participants. The proposals, in particular, include the introduction of a simplified procedure for returning funds to victims of fraudsters.
The Central Bank will determine the amount of refund based on the targeted return of funds to citizens in an average 80-90% of all cases of social engineering fraud.
According to the Central Bank, the volume of funds stolen by cybercriminals increased by 18.5% last quarter compared to the same period in 2020, and exceeded 3.2 billion rubles. At the same time, the share of returned funds in the total volume of stolen money, on the contrary, fell sharply – by 5.4 percentage points down to 7.7%.
Sources: RBC and RIA Novosti