Russia Launches CBDC Anti-Fraud System as Digital Ruble Rollout Nears
As the digital ruble's launch approaches, the Central Bank of Russia has introduced an anti-fraud protection system for banks.
According to the official Russian Parliamentary Gazette and TASS, the new measures came into effect on February 23, based on a decree issued by the Central Bank last year.
New Anti-Fraud Measures
Sergei Gavrilov, Chairman of the State Duma Committee on Property, Land, and Property Relations, stated that these measures would help protect transactions made with the digital ruble. If a bank detects potential fraud, it can suspend a transaction for two days to verify it, during which the client will be notified and asked to confirm the transaction the following day.
Protection for Businesses
Gavrilov added that if clients fail to respond, the transaction will not proceed, and the funds will remain in the sender's digital wallet, ensuring the safety of their assets.
These measures primarily target commercial, corporate, and B2B users, and are similar to a system introduced last year for peer-to-peer transfers.
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