Russia Faces Rising Cybercrime Losses Exceeding $1.25 Billion

According to Odaily, Russian Interior Minister Vladimir Kolokoltsev revealed during a meeting of the Public Council of the Ministry of Internal Affairs on Wednesday that cybercrime in Russia has resulted in losses exceeding $1.25 billion since the beginning of this year. He explained that both individuals and organizations, including government agencies, frequently fall victim to digital crimes. Kolokoltsev emphasized that these crimes pose an increasing threat to the national economy and citizens' property rights. Kolokoltsev, as cited by TASS, stated, 'In the past five years, the number of illegal activities in cyberspace has more than doubled. Today, their share remains significant, accounting for about 40% of the total. For serious and particularly serious crimes, this figure has reached 60%. This causes significant damage to the economy and citizens' property rights. Since the beginning of this year alone, the total loss has exceeded 116 billion rubles.' To address this rising trend, the Ministry of Internal Affairs has been working to strengthen its IT crime department. Kolokoltsev highlighted educational efforts, noting that nearly 1,000 students are currently enrolled in computer and information security courses, and over 750 employees of the ministry have also upgraded their qualifications. Kolokoltsev stated that these initiatives are proving effective.