Bank of Moscow shared its data on card fraud in 2009 with MSK insurance group. According to it in 2009 bank’s customers lost about 15 million roubles due to fraud operations (approximately 1,500 cards), in 2008 the figures were much less – swindlers have stolen only 7.5 million roubles.
The pilot project of fraud card insurance is going to be launched in the end of April, 2010 – it will be offered to the clients of some of Moscow companies, who get wages on debit cards of Bank of Moscow (MSK is not ready to protect credit cards). Now, MSK and Bank of Moscow are discussing the final set of risks which insurance will cover, but Company will precisely insure the holder from skimming and fishing.
MSK expects that about 60 % of card holders will buy such insurance policy. At present, according to MSK, Bank of Moscow has 900,000 clients of salary projects.
Vedomosti
