During the holiday season, financial fraud in Russia tends to surge, especially in the final days of December and the New Year period. This warning comes from Nikita Chugunov, Senior Vice President and Head of the Digital Business Department at VTB, who spoke to socialbites.ca. He emphasized that the late December window is particularly risky as people wind down for the holidays and become more relaxed, creating openings for scammers to exploit trust and urgency.
Chugunov noted that there was no sharp rise in fraud at the very start of December, largely because banks have strengthened their security measures. Yet the pre-holiday rush can still make individuals more vulnerable. The banker urged Russians to exercise caution and to avoid meeting or sharing information with anyone who seems suspicious. He stressed that protecting personal and banking details is essential and that straightforward precautions can prevent most fraud attempts.
According to his assessment, many phishing scams today revolve around festive themes such as promotions, gift sales, and ticket purchases for cinema or theater. Fraudsters frequently impersonate mobile operators, pressing people to renew a contract or claim a supposed bonus. The ultimate aim is to access a person’s account information and obtain codes used for various services, including mobile banking, enabling unauthorized transactions.
Chugunov highlighted that fraudsters target a broad range of customers but tend to zero in on individuals aged 30 to 40, who are typically more active in financial transactions and more likely to engage in online shopping and money transfers during the holidays.
Earlier, the Central Bank identified four scam schemes that have been used to steal funds from Russians ahead of the New Year, underscoring the ongoing risk and the need for vigilance during this time. In addition, cyber security expert Egorov had warned that financial fraud could rise in 2024, pointing to a longer trend of scams adapting to holiday routines and digital banking habits.