The Central Bank of Russia is implementing an anti-fraud system for the digital ruble as it prepares for its complete rollout.
New Anti-Fraud System
The Central Bank of Russia has developed an anti-fraud system for the digital ruble. The system was introduced on July 25 last year and allows banks to temporarily block suspicious transactions for verification.
Features and Benefits of the System
Policymaker Sergei Gavrilov emphasized that the new system allows banks to suspend digital ruble transactions for two days when fraud is suspected. If clients cannot confirm the transaction, the funds remain in the sender's virtual wallet, ensuring protection against unwanted consequences. The system was developed based on previous P2P transfer initiatives launched in 2024.
Public Reaction and Future Plans
While banks have expressed concerns, some groups allege that the new system allows unutilized tokens to be burned. Others fear government pressure on pensioners and income recipients to use the digital ruble. However, the Central Bank asserts that the use of CBDC will be entirely voluntary.
The launch of the digital ruble and the anti-fraud system elicits mixed opinions and expectations. However, the Central Bank assures that the project will be implemented with necessary safety measures and voluntary user participation.
