Klepach admitted the emergence of cyber threats to the financial stability of Russia


Hackers may eventually become a threat to the financial stability of the Russian economy, says chief economist VEB Andrei Klepach.

“Not now, but eventually may become such,” — said Klepach, answering the question TASS on whether the cyber threat become a risk for the financial stability of the Russian economy.

Earlier, on 2 December, the Federal security service (FSB) reported that foreign intelligence agencies use hackers to destabilize the Russian financial system. The FSB warned that coordinated with the Netherlands attack could begin on December 5 and assured that the necessary measures to neutralize threats to the economic and information security are already being taken.

Later, the Deputy head of the Ministry of Finance of Russia Alexey Moiseev said “RIA Novosti” that the Russian banking system “stable”, and therefore the attack on it is meaningless.

“The biggest stupidity of the people that it [a cyber attack] came up with, is that there are generally no clues. With the same success we can say that the earth will fly the celestial axis. All nonsense,” said the Deputy Minister.

In the published CBR the financial stability review in the second and third quarters of 2016, experienced an increase in unauthorized debiting of funds from accounts of legal entities and individuals. the document particularly States that the potential cyber threat “can have serious negative consequences”.

“Cyberrisk becomes more and more important in the activities of financial institutions and could potentially have implications for financial stability if the target of cyber attacks become, systemically important banks, Central banks or financial infrastructure (including payment systems),” explains the authors of the review of the Central Bank.

According to the regulator, in early 2016, the intruders had committed the attempted theft of correspondent accounts of Russian banks in the Central Bank, 2.87 billion RUB, at the same time save from hackers was only 1.67 billion RUB.

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