Russia’s largest bank and its financial regulator on Thursday called for tougher penalties to be put in place against cybercrime.
Governor of the Central Bank Elvira Nabiullina and Sberbank CEO German Gref highlighted how criminal responsibility in Russia for some cyber crimes is softer than in the United States, while for others it is completely lacking.
“Cybercrime is where accountability needs to be increased and collaboration with the relevant authorities is needed,” Nabiullina told the Finopolis financial forum in Sochi.
The comments come days after reports that customer data from 60 million Sberbank credit cards appeared for sale on the black market. Gref defended Sberbank’s response and said they had so far confirmed the data of 5,000 clients had been stolen by an employee of the bank. He said Sberbank was still investigating the incident and would prepare a report for other key players in the financial sector about how to prevent such incidents in the future.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
