Russia Warns of Surge in Tax Scam Targeting Offshore Account Holders

Cybercriminals are targeting Russians with overseas assets using fake tax notification sites—just ahead of reporting deadlines.

Russian financial experts are sounding the alarm over a new wave of fraud aimed at citizens who hold offshore accounts. According to Maksim Semov, a financial literacy official with the Association of Russian Banks and an expert on the Russian Ministry of Finance’s MyFinances.rf platform, criminals have begun exploiting tax season to dupe unsuspecting users.

Victims receive messages via messaging apps, allegedly from banks or the Federal Tax Service (FNS), reminding them to submit foreign account reports. While the obligation to report these accounts is real—with a deadline this year of June 2—scammers send fake links to phishing sites disguised as government portals.

Clicking these links can lead to stolen personal data or even direct financial loss. While similar schemes are not new, experts say this is the first time offshore account holders have been singled out.

Semov notes that fraudsters routinely ramp up activity around tax filing deadlines, posing as tax officials to catch victims off guard. The best defense, he says, is vigilance: never click unsolicited links, and only file reports via the official taxpayer portal on the FNS website.