Russian banks warned of risk of cyberattack: a crime or security concern?
Russian banks are being warned by the FSB to prepare for possible cyberattacks. That may seem to be a given in these days of virtual criminality, and follows a recent theft of 2 billion rubles ($31.3 million) from correspondent bank accounts at Russia’s Central Bank, but actually Russian financial institutions have until now had it pretty easy. That’s not least because part of the unwritten deal between the state and the hacking community (along with the need to pitch in when ‘patriots’ are expected to attack some foreign target) is that they are fine so long as they don’t commit their crimes against domestic institutions.
However, I wonder if there is also a security dimension here. Just as the Central Bank was involved in recent mobilisation exercises, predicated (rightly) on the fact that any major conflict with the West would also be fought with economic instruments, I wonder how far Moscow is coming to terms with the fact that the one-way ‘political war‘ currently being waged against the West might become a two-way one, at least to a limited extent. Those who live by the hack risk dying by it, too.
Posted by Mark Galeotti on December 4, 2016