CuzzA
Wetwork for Hire
It's the expansion of gas underwater that does the damage, not the bullet. I would not want to have any part of my body near a round going off. I have shot bullets from powerheads underwater so I am speaking from experience. Aside from the potential to mangle a limb, the concussion near your ears would really hurt. A bullet going off underwater sounds like a mortar from 5 meters. Next to your head, might knock you out cold.Handgun or rifle ammo, you'd basically have to be practically touching it to be injured, even if somehow managed to explode. Bullets need a barrel to accelerate. The shell could theoretically act somewhat like a grenade with larger rounds, but the water would slow down the shrapnel in a relatively short distance.
Some rounds, like the Russian military 7.62x54r are sealed. How long the sealant would last, I have no idea. Once the primer is exposed to water the round would be ineffective. Larger ordinances would probably have the same problem.