Russia’s central bank proposes tougher control over cards replenishment at ATMs

The Bank of Russia believes that banks should strengthen control over the replenishment of cards through ATMs and cash-in enabled terminals in order to combat fraud.

As a central bank’s spokesperson told RBC, anti-fraud procedures are still in place on the side of the destination bank. However, the anti-fraud procedures require more attention because fraudsters use the scenarios that provoke potential victims to deposit funds to the fraudsters’ accounts through terminals (ATMs), including those supporting the cash-in function.

“Thus, anti-fraud tools will be applied to all incoming payments, including transfers through terminals,” the central bank notes.

According to the Bank of Russia, in Q2 2021, fraudsters stole over 3 billion rubles from bank accounts of Russians, making over 236.9 thousand unauthorized money transfers, while banks could refund as little as 7.4% of the stolen funds.

To steal the funds, cybercriminals mainly made deceptive phone calls or created fake Internet resources.

Source: RBC

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