Russia's Cybercrime Damage Exceeds $1.25 Billion in 2024, Minister Says

Cybercrime Costs Russia Over $1.25 Billion in 2024, Minister Says

Russian Interior Minister Vladimir Kolokoltsev revealed during the meeting of the public council of the Russian Interior Ministry on Wednesday that cybercrime damage in Russia has exceeded $1.25 billion since the beginning of the year. He explained that both individuals and organizations, including government agencies, are frequent victims of digital crimes. The minister emphasized the growing threat these crimes pose to the country’s economy and its citizens’ property rights.

Kolokoltsev was quoted by Tass as stating:

Over the past five years, the number of illegal acts in cyberspace has more than doubled. Today, their share in the total number remains significant and amounts to about 40%. That is, every second crime, and for serious and especially serious crimes, this figure has already reached 60%.

“Significant damage is caused to the economy and property rights of citizens. Since the beginning of the year alone, the total amount of damage has exceeded 116 billion rubles,” Kolokoltsev added.

To counter this rise, the Interior Ministry has focused on strengthening its IT crime units. Kolokoltsev pointed to efforts in education, with nearly 1,000 students currently enrolled in computer and information security programs. Over 750 ministry employees have also enhanced their qualifications. According to Kolokoltsev, this approach is yielding results.

He revealed:

In January-August, the number of serious and especially serious crimes that were solved, including those committed by organized groups of criminal communities, has increased.

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