13 July 2021 – In the first three months of the year, the total volume of fraudulent activities involving bank cards in Moldova reached four million lei. The subject of frauds committed with the use of bank cards and protection measures against these crimes were discussed at the Economic Council to the Prime Minister of the Republic of Moldova.

Currently, more than 2 million bank cards have been put into circulation in the Republic of Moldova, which is more than 20% more than in the first half of 2020.

During this period, citizens made more payments online.   However, cashless payments are fraught with great risks, and the authorities and banks are working hard to eliminate them. Thus, in the first quarter of 2021, the amount of fraud using bank cards amounted to four million lei.  Of these, 45 percent were made without a card. That is, the attackers obtained the card data remotely.

The authorities say that in connection with the popularization of e-commerce, payment systems, banks and law enforcement agencies are taking all comprehensive measures to improve the security of cashless payments. Among them is the strengthening of measures to ensure the confidentiality of data on bank cards and their safe use.

The roadmap for accelerating the digitalization of the national economy and the development of e-commerce is being implemented on the platform of the Economic Council. The topics of the document are intended not only to facilitate digitization processes, but also to increase the security of e-commerce. In this regard, the Secretariat of the Economic Council engages local and international experts, the business environment and development partners to provide the authorities with mechanisms and proposals for improving the legal framework in this regard.

The Secretariat of the Economic Council to the Prime Minister is supported by the European Bank for Reconstruction and Development, funded by the UK Government’s Good Governance Fund, and the International Finance Corporation’s Investment Climate Reform Project funded by the Government of Sweden’s International Development Agency.