According to the Association of Russian Banks (ADB), the introduction of the digital ruble will face the same cybersecurity risks as with cashless payments.
Recall that in the fall, the Central Bank of Russia began a public discussion on the issue of the digital ruble. As stated in the report of the Bank of Russia, the digital ruble will be able to use both state bodies and enterprises, and ordinary citizens. ADB conducted a survey of 17 Russian bank executives to find out their views on the prospects for this digital asset.
Most of the surveyed banks believe that unauthorized access to a wallet with a digital ruble and customer data can be obtained, not counting identification errors. This means that there is a high risk of digital rubles being stolen. Banks said that holders of digital rubles could be exposed to the same threats as when using bank cards and accounts.
In addition to the risks associated with cashless payments, there are many other threats. Among them, bank executives pointed out non-compliance with security principles by firms, flaws in the system and low qualifications of specialists in the field of cybersecurity. Some lending institutions believe that any incident in a centralized system is more severe than in a decentralized one.
The main risk of the digital ruble lies in fraudulent transactions that can be carried out using social engineering methods. In addition, banks are afraid of the emergence of new spyware that will be used by cybercriminals not only to steal digital rubles from users, but also for hacker attacks on banks.
Earlier, the Ministry of Finance of the Russian Federation said that to ensure security, the digital ruble must comply with the rules of the Financial Action Task Force on Money Laundering (FATF).