Russia tightens cybersecurity measures as financial fraud hits record high

Russia enacted a law to curb soaring financial cybercrime and data leaks, banning state and major platforms from using foreign messaging apps, mandating caller ID labeling, and establishing a state system to track cyber offenders. The report highlights a 74.4% year-over-year surge in bank fraud losses to 27.5 billion rubles, frequent DDoS incidents, and massive leaks of phone numbers and emails, alongside increased penalties for data breaches and restrictions on foreign cybersecurity and cloud services, reinforcing the Kremlin’s drive toward digital isolation.