Russian economy set to lose $44 billion to cybercrime in 2020: Russian bank

Russian economy set to lose $44 billion to cybercrime in 2020: Russian bank

The Russian economy is set to lose $44 billion to cybercrime in 2020 amid COVID-19, according to estimates published by Russian bank Sberbank.

It added that the country’s economic damage from cybercrime may double in 2021

“On average, we have to deal with 26 billion cybersecurity events every day,” said Stanislav Kuznetsov, deputy chairman of Sberbank’s executive board.

The number of crimes linked to bank cards in Russia has shot up 500% this year, interior ministry data showed in October.

Sberbank has said it has a 100% success rate in repelling cyber attacks. Sberbank is Russia’s largest lender with nearly 100 million active clients.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

multimedia

news