Fraudsters use vulnerabilities in the protection of small banks to launder money overnight

Fraudsters began using "holes" in the security of small banks to launder money through them, market participants told Izvestia.

Panic button: bank applications will be equipped with new protection from fraudsters

Financial organizations are trying to protect clients from crime

According to Andrey Makosko, Deputy Chairman of the Board of Novik Bank, money laundering control systems in such financial institutions may not work effectively.

Fraudsters really force victims to open accounts in less secure banks, the press service of the Savings Bank confirmed. They are persuaded to transfer their funds there, after which they are withdrawn from the organization, bypassing its less developed anti-fraud system.

In addition, in small banks, the withdrawal limits may be higher than those of large players, said the Vice President for Information Security at Dom Bank.Russian Federation" Dmitry Nikishov. This is also why fraudsters try to conduct operations through them.

VTB also confirmed an increase in dropper activity at night.

Medium and small banks often simply do not have such advanced systems as the top market players, explained Alexander Bleznekov, head of Information security strategy at Telecom Exchange, an IT integrator. He stressed that they do not use artificial intelligence and "big data" analysis, and financial monitoring teams are often reduced to a minimum or combine several functions at once.

Read more in the exclusive Izvestia article:

Make no mistake about it: scammers have discovered security holes in small banks.