Large-scale cyber fraud detection system will be launched in Belarus in March

Belarus is now on the verge of a historic event in the field of cybersecurity: the National Bank has joined the Interior Ministry and the Investigative Committee to implement a large-scale cyber fraud detection system – following a decree of the Head of State signed last August

As noted by Ivan Sudnikovich, the Deputy Head of the Main Department for Digital Development of Preliminary Investigation at the Investigative Committee’s Central Office, the new mechanism for tracking and blocking fraudulent transactions will start working in March. He explained that this is another, but crucial stage in a large-scale strategy to counter online scams.

“We are creating a new history of effective public-private partnership to protect our citizens from such crimes. On the one hand, this is the banking community headed by the National Bank, on the other – the Investigative Committee, the Interior Ministry and other law enforcement agencies. Today, cybercrimes are a national problem, and every Belarusian can suffer from them,” Mr. Sudnikovich said.

The official added that, against the complicated geopolitical situation, the problem of the kind has intensified. Transnational organised groups of cybercriminals work in Belarus, and they annually commit several thousand embezzlements against citizens, and tens of millions of Roubles are transferred abroad from the accounts of Belarusians.

With this in view, Mr. Sudnikovich believes it is important today to detect fraudulent transactions as quickly as possible and stop the withdrawal of stolen money. The new system of countering cybercrime in the banking sector will help solve this problem.