Sberbank : Sber successfully combating cyberthreats at subsidiary banks

Over the past few years, the number of cyberattacks on Sber's systems and services has grown exponentially. Over 100 cyberattacks on the bank's infrastructure and financial services and over 10,000 attempts at fraud against clients are recorded every day.

The effective counter fraud systems implemented at Sber enabled the bank to prevent the theft of over RUB 57 bn from clients in 2020. For the second year in a row, the bank's fraud monitoring system has been declared the best worldwide based on its results combating cyberfraud. In 2021, it received awards in two Visa Global Service Quality Awards categories.

Against the backdrop of its success in Russia, the company is effectively countering cybercriminal attacks in the foreign countries where it operates.

Its subsidiary bank in Kazakhstan implements proactive IT solutions, deterring attacks by scammers. The bank uses approximately 15 systems to counter cyberattacks, including Sber's fraud monitoring system.

To more effectively combat cyber threats, Sberbank Kazakhstan created the Center for Combating Cyber Fraud (CCCF), which carries out round-the-clock transaction analyses, detects suspicious operations, and, if necessary, launches cyber fraud response and prevention mechanisms.

These efforts led to a tenfold reduction (compared to 2019) in successful attempts at withdrawing funds from client accounts, enabling the bank to prevent a wide variety of cyberattacks. The bank's security service experts note that today the current threats are cyber fraud using social engineering, data leaks, and targeted attacks on the bank's systems.

In 2020, the most widespread type of cyber fraud at BPS-Sberbank in Belarus was the use of social engineering for criminal purposes. Almost 99% of the cases recorded by the bank had to do with this way of extracting information from clients.

Sber's fraud monitoring system helps the Belarus subsidiary bank to effectively combat cyber fraud attempts against its clients. It analyzes thousands of transactions per day, blocking suspicious ones. In 2021, the technology prevented the theft of around BYN 2 mn.

The system is part of the bank's comprehensive cybersecurity system, with the 24/7 Security Operation Center performing a key function. Constant monitoring of threats enables the center to detect illegal activity at the earliest stages. The reliable cyber protection system ensures that the bank's systems and client services function smoothly round-the-clock.

To ensure its cybersecurity, Sberbank Europe uses various tools and contemporary IT solutions from leading cybersecurity companies. Sberbank's European subsidiary banks deal with phishing attacks aimed at clients and bank employees every week. Technological mail gateways and partner company solutions ensure email security and block harmful emails and phishing scams. The bank's security service has developed a constructive rapport with public institutions, the police, and CERT in order to be able to respond promptly to cyber attacks and protect its clients and employees.

The bank's security systems are often challenged by DDoS attacks against its public resources. Despite the increased frequency of attempts at gaining access to internal information or disrupting the bank's services, no one has been able to overcome the well-crafted protection system.

In addition to its security systems, Sberbank Europe employees often show initiative and prevent fraud themselves. Sberbank Hungary employees prevented several attempts at credit application fraud in a matter of months and reported them to the authorities. The most vigilant of the employees received an Eagle Eye award from the bank's Counter Fraud Committee. This circumspection saved several tens of thousands of euros for the bank and its clients over the past six months.

Millions of people abroad trust us with their funds. That is why implementing modern cybersecurity standards is one of the top priorities for Sber's international business. Our subsidiary banks promptly react to changes and adopt the most modern data protection technologies, including AI technology. Our clients' trust is evidence of the measures' effectiveness.

Timur Kozintsev

Senior Vice President, Head of Sberbank International