The Bank of Russia announced on May 14 that banks prevented nearly 16.8 million fraudulent transactions and stopped the theft of ₽1.8 trillion during the first quarter of 2026, according to its Review of Reporting on Information Security Incidents Related to Funds Transfers.
This update highlights ongoing efforts by Russian banks and regulators to combat financial fraud. Despite a reported 495,800 fraudulent transactions resulting in stolen funds totaling ₽7.4 billion, individuals’ financial losses decreased by 10.2% compared with the previous quarter.
Legal entities faced a significant number of malware attacks during this period. Most incidents involved employees receiving deceptive emails that prompted them to download files, allowing criminals remote access to corporate systems and enabling them to transfer funds under false pretenses.
During January through March, the Bank of Russia initiated the blocking of about 10,500 fraudulent websites and social media pages while also providing telecom operators with information on approximately 8,300 phone numbers used by criminals.
The Bank of Russia is responsible for managing national cash circulation as well as serving as the sole issuer of the Russian ruble; it documented cash in circulation reaching 18.6 trillion rubles as part of its currency management activities, according to the official website. The central bank operates independently from other government bodies and aims to promote financial stability while fostering a competitive market environment under leadership that includes a governor and deputy governors.According to the official website, it also publishes annual reports and financial analyses for public access.
