Daily Dash: Russia's Central Bank Issues QR Code Payment Security Rules

The Central Bank of Russia (CBR) has introduced a new set of guidelines to enhance the security of QR code-based payments and transfers.

The newly approved standard aims to help financial institutions and businesses mitigate risks by identifying potential threats at different transaction stages and implementing protective measures. 

The new guidelines also include specific security protocols for ATM deposits and withdrawals using QR codes.

Although the regulation is advisory rather than mandatory, the regulator has said it expects companies to adopt internal security measures in line with the standard to safeguard users.

The new rules are set to take effect on February 17, 2025.