Russia's insurers to cooperate with secret services

At present, every sixth owner of a plastic card in Russia is a victim of a mistake or malice. The number of crimes related to plastic cards grew by a factor of 6 over the past four years, causing losses of $2m to $3m annually. Nevertheless, Russian insurance companies keep insuring risks from plastic card transactions. Cards, mostly international, are primarily subject to theft, unauthorized use, counterfeiting or fraud when making transactions. Insurance companies have no means of control over potential card misuse and intend to cooperate with the Federal Security Service (FSB) to counter the illegal use of cards, the Izvestia newspaper reported.

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