We analyze variations in geomagnetically induced currents (GIC) and pulsations of the geomagnetic field latitudinal By component in the frequency range 1–20 mHz. The analysis is based on the data from GIC registration at the Kola Peninsula and magnetic data from IMAGE network stations, obtained with 10 s sampling in 2017. This allows us to include pulsations of both Pc5/Pi3 and Pc4/Pi2 frequency range in the analysis and examine polyharmonic pulsations with spectral maxima in both ranges. It is shown that GICs are effectively generated at frequencies above 5 mHz. Polyharmonic pulsations are potentially more dangerous than monoharmonic ones because the ratio of GIC to magnetic field pulsations’ amplitude is higher and the lifetime of unipolar GIC is longer.