Nabiullina acknowledges Central Bank’s overreach in combating fraud

Elvira Nabiullina, head of the Central Bank of Russia, stated that the measures employed by the Bank to fight fraud have been too harsh. ‘For example, complaints about fraud have decreased, but complaints about unwarranted account blocks have increased. So, in our efforts to combat fraud, we have somewhere overstepped the mark,’ said Nabiullina, as reported by ‘RIA Novosti’. She further explained that clients are not always provided with reasons for the account blocks.

Starting from January 1, 2026, a new list of indicators of fraudulent operations will come into effect, approved by the Central Bank of Russia. This expanded list includes 12 main criteria and two additional ones.